The Agriculture Growth and Resource Integration through Strategic and Enhanced Delivery of Support and Opportunities (AGRISENSO) Plus Lending Program aims to provide accessible, adequate, affordable, and timely credit assistance to small farmers and fishers, ARBs, Micro, Small and Medium Enterprises (MSMEs) and other players/stakeholders in the agricultural value chain that will improve agricultural productivity.
Eligible Borrowers
- • SFFs and ARBs
- • MSMEs
- • FFCAs and ARBOs
- • Large Enterprises / Anchor Firms
- • Agriculture Graduates
Loan Purpose
- • Crop Production
- • Fisheries Production
- • Farm Equipment and Inputs Acquisition
- • Acquisition and Construction of
- • Agri-based Pre and Post Harvest Facilities
- • Pond development/improvement
- • Working Capital for Trading Purposes
- • Relending and Rediscounting Facilities
Loanable Amount
- • For Production Loan – up to 90% of the total production cost
- • For Fixed Asset Acquisition – up to 80% of the acquisition cost and/or total project cost
Interest Rate
- • 4.0% fixed for SFFs and ARBs (for Direct Lending) under blended funding
- • For FFCAs, ARBOs, MSMEs, and Large Enterprises/Anchor Firms:
- ◦ Prevailing BVAL rate at the time of availment plus minimum spread based on the credit rating of the borrower, subject to (monthly, quarterly, semi-annually, or annually) repricing, but not lower than 6.5% p.a. for STL and 7.0% p.a. for TL
- • For Agriculture Graduates:
- ◦ STL/STLL - Prevailing BVAL rate at the time of availment but not lower than 7.0% per annum (p.a.)
- ◦ TL - Prevailing BVAL at the time of availment but not lower than 7.5% p.a.
Credit Facility
- • Short-Term Loan (STL)
- • Short-Term Loan Line (STLL)
- • Rediscounting Line
- • Term Loan Rediscounting Line
- • Term Loan (TL) for Fixed Asset Acquisition and/or Establishment/ Rehabilitation of Pre- and Post-Harvest Facilities, Permanent Working Capital
- • Revolving Credit Line (feature coming soon)
Mode of Payment
- • Through over-the-counter in any nearest LBP Branch, debit from existing deposit account with LBP, other electronic banking channels, Portable Agrarian Reform Collections System (PARCs) , or through other LBP digital modes of payment
Loan Tenor / Repayment
- • For STL: Up to 360 days Promissory Note (PN) depending on the production cycle and/or projected cash flow, payable in lump sum
- • For STLL: Up to 360 days Promissory Note (PN) depending on the productioncycle and/or projected cash flow, payable in lump sum; renewable for working capital.
- • For Rediscounting Line: One (1) year credit line with PN term based on the earliest maturity of sub-borrower’s rediscounted PN per batch, payable in lump sum.
- • For Term Loan Rediscounting Line: One (1) year credit line with PN term based on the maturity of the sub-borrower’s PN rediscounted but not to exceed ten (10) years, payable based on the projected cash flow and/or repayment terms of the rediscounted PNs.
- • For TL: More than one (1) year up to 10 years, based on production cycle/project cash flow but not longer than the economic useful life of the asset (in case of fixed asset acquisition) payable monthly, quarterly, semiannually or annually.
Other Loan Feature
- • Free Life and Credit Life Insurance for SFFs and ARBs
Eligibility Requirements
SFF and ARBs
- • At least 18 years old but not more than 65 years old
- • With marketable surplus
- • Actively tilling the land or directly supervising actual farming operations, or a leaseholder directly tilling the land
- • Registered with the RSBSA and/or FishR
- • Included in the updated National Irrigation Administration (NIA) Masterlist in the case of small rice farmers within irrigated area
MSMEs
- • Duly registered with the DTI or SEC
- • No adverse findings on the borrower and
- • Key Officers
- • With a viable project and well-defined source of repayment
- • No outstanding loans from other financial institutions for the same project being applied for
FFCAs and ARBOs
- • With legal personality
- • Majority-owned by farmers and fisherfolk
- • With at least six (6) months in business operations
- • Presence of Core Management Team
- • Systems and procedures in place, particularly in lending operations
- • In the case of start-ups, familiarity with the proposed project can be established
Large Enterprise / Anchor Firms
- • Graduates Engaged in managing consolidated or clustered farm lots owned or cultivated by farmers and/or ARBs, and/or
- • Collaborating/partnering with farmers/ARBs and/or their organizations, and;
- • Covering a cumulative area of least 100 hectares
Agriculture Graduates
- • Graduates in agriculture under any Government sponsored/endorsed local or foreign scholarship programs or with a certificate of at least two (2) years of intensive training
- • Must be at least 18 years old but not more than 35 years old
- • May apply for a loan within three (3) years from date of graduation / date of the Certificate of Training
Pre-processing Requirements
For all types of borrowers:
- • Loan Application
- • Project Proposal
- • Business Plan
- • Mayor’s Permit
- • For Production Loan: Farm Plan and Budget
- • For land acquisition:
- Title
- Tax Declaration
- Real Estate Tax Receipt (RETR) and Clearance
- Location Map/Vicinity Map
- • For acquisition of machinery: Price Quotation
- • For Existing Business:
- Income Tax Return for the past three (3) years
- Audited Financial Statement for the past three (3) years
- Latest Interim Financial Statements
Additional Requirements
For the following types of borrowers:
- • For MSMEs – Certificate of Registration from DTI or SEC and other applicable business permits
- • For Agriculture Graduates - Viable business plan/feasibility study on an agri-business venture related to the study or training
- • For Association/Corporation/NGO:
- Certificate of Registration from CDA/SEC Certified Copy of Articles of Cooperation/ Incorporation and By-laws
- Certified list of Board of Directors and Key Officers (Manager or President, Treasurer/ Cashier and Bookkeeper) together with their Bio-data and TIN
- Board Resolution authorizing the cooperative/ association/corporation to borrow, mortgage properties including the object of financing and designating at least 2 officers to negotiate and sign loan document
- CDA Certificate of Compliance (COC)
- BIR Certificate of Tax Exemption (CTE), if any
Documentary Requirements for SFFs/ARBs
Pre-processing:
- • Duly filled-out Loan Application Form with pictures
- • Certified True Copy of Land Title or MARO Certification for ARBs (for Non-Owner Tillers, documents acceptable to the Bank such as MAO or BARC Certificate of Tillage, Notarized/Barangay Captain Certified Lease Contract/Deed of Sale/SPA, Tax Declaration, etc.)
- • Proof of registration with RSBSA/FRS or enrollment stub/ID duly numbered and signed by the Municipal Agricultural Officer (MAO)
- • Endorsement of DAR (for ARBs) and NIA (for rice farmers in irrigated areas). In case of rice farmer-ARBs in irrigated areas, submission of either the DAR or NIA endorsement is acceptable.
- • Proof of attendance to Loan Orientation, Financial Literacy or similar trainings/seminars except for the borrowers of the predecessor programs of AGRISENSO and re-availers of AGRISENSO (Plus)
- • Pro-forma invoice of fixed assets to be acquired, if applicable
Collateral Requirements / Credit Enhancers
Any or a combination of the following:
- • Assignment of proceeds of insurance claims from the PCIC, CLI, and from other insurance companies, accredited by the LBP Insurance Brokerage, Inc. (LIBI)
- • Assignment of produce and receivables
- • Assignment of Purchase Orders
- • Assignment of proceeds of guarantee claims from Philippine Guarantee Corporation/AGFP
- • Assignment of DA-ACPC Claims
- • Assignment of Sub-borrowers’ Promissory Notes and underlying collateral
- • Security interest on the object of financing
- • Real Estate Mortgage
- • Other collateral acceptable to the Bank
