LANDBANK lends P6.95B to MSMEs, co-ops for COVID-19 relief

March 1, 2021

The Land Bank of the Philippines (LANDBANK) has approved loans totaling P6.95 billion for 227 borrowers composed mostly of micro, small and medium enterprises (MSMEs) and cooperatives that are affected by the impact of the COVID-19 pandemic.

Under the I-RESCUE (Interim REhabilitation Support to Cushion Unfavorably affected Enterprises by Covid-19) Lending Program, LANDBANK has released P5.28 billion of the total P6.95 billion for the benefit of 208 borrowers, composed of 167 MSMEs, 34 cooperatives, four (4) microfinance institutions (MFIs), and three (3) large corporations as of end-January 2021.

Launched in April 2020 at the height of strict quarantine lockdowns, the I-RESCUE Lending Program was designed in support of Republic Act 11494 or the “Bayanihan to Recover as One Act (Bayanihan 2)” to provide credit and loan restructuring under more flexible terms and conditions to MSMEs, MFIs, and cooperatives.

LANDBANK recently expanded the coverage of the Program to allow more borrowers affected by the pandemic to avail of credit and loan restructuring assistance.

The I-RESCUE Lending Program now allows micro enterprises and large corporations to borrow a maximum of 85% of their emergency or permanent working capital requirement. Terms are set at an affordable interest rate of 5% per annum for three (3) years, subject to annual re-pricing thereafter, and payable up to 10 years with a maximum of two (2) years grace period on the principal repayment.

Moreover, LANDBANK is currently working on expanding the I-RESCUE Program further to offer a new sub-credit facility for MSMEs, cooperatives, and self-employed individuals severely affected by the health crisis. Qualified borrowers may soon be able to borrow a minimum amount of P100,000 or up to 85% of their actual permanent working capital requirement, at a lower fixed interest rate of 3% per annum only, payable up to three (3) years.

“We are enhancing the I-RESCUE Lending Program to cover a wider range of key industries that need greater access to credit. LANDBANK is keeping in step with emerging requirements under the new normal in support of the country’s ongoing economic recovery,” said LANDBANK President and CEO Cecilia C. Borromeo.

Existing LANDBANK clients may also avail of loan restructuring via additional loan and extended repayment period or combination of means to rehabilitate and restore operational cash flow.

The LANDBANK I-RESCUE Lending Program is available until December 31, 2022.

Interested borrowers may contact the nearest open LANDBANK Lending Center or Branch nationwide or call LANDBANK’s customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 1-800-10-405-7000.

For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), and join our Viber community (@LANDBANK), or visit the LANDBANK website (

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LANDBANK-funded ‘Cocohub’ boosts Cebu farmers’ income

The Coconut Hub of Lamac Multi-Purpose Cooperative (LMPC) at Barangay Colonia in Tuburan, Cebu produces various products made from coconuts, that has been helping increase the income of local coconut farmers while providing livelihood opportunities among women in the community. (Photos courtesy of LMPC) TUBURAN, Cebu – When Super Typhoon “Yolanda” devastated parts of the country in 2013, coconut farmers from this town struggled with lower productivity and income. They were left with damaged coconut farms, making it even harder to earn a living for their families. This dire situation pushed the Lamac Multi-Purpose Cooperative (LMPC) to support its farmer-members by establishing a production center for diverse products made from coconuts, which provides farmers with higher income from selling all parts of their produce to LMPC at a competitive price, instead of relying solely on producing copra. The Coconut Hub or ‘Cocohub’ facility, the first-of-its-kind in Cebu, commenced operations in 2020. Today, the center processes 15,000 seed nuts a day for the production of virgin coconut oil, coco sugar, coco baskets, ropes, mats, and anti-soil erosion nets, among others.  The Cocohub project benefits over 500 farmers from Tuburan and neighboring towns, while generating employment opportunities for women in the community who work full-time in the hub.  The operations of the Cocohub is backed by financial support from the Land Bank of the Philippines (LANDBANK)—a long-time development partner of the LMPC. Loans from the Bank are used as working capital for the purchase of furniture and fixtures, payment of raw materials to suppliers, and salary of the cooperative’s workers.  “Malaki ang naitutulong ng LANDBANK upang mapanatili ang operasyon ng Cocohub, lalo na at hindi ganon kabilis ang return of investment dito. Parang pamilya na namin ang LANDBANK dahil lahat ng pangangailangang pampinansiyal ng LMPC ay sila talaga ang tumutugon,” said LMPC General Manager Ma. Elena C. Limocon. The Cocohub is a joint project with the Philippine Coconut Authority (PCA), which provides the LMPC infrastructure support and essential equipment, including a decorticating machine.    Other government agencies and local government units (LGUs) are likewise supporting the project to help sustain its operations. These include the Department of Science and Technology (DOST), Department of Trade and Industries (DTI), Bureau of Fisheries and Aquatic Resources (BFAR), and the Cebu Technological University (CTU), which provide information resources, product innovations, and relevant trainings to capacitate farmers as well as for marketing of the goods.  “LANDBANK is a proud partner of the LMPC Cocohub designed to uplift the lives of coconut farmers and communities in Cebu. This project is a shining example of how government partners working under a whole-of-nation approach can build a sustainable and inclusive agricultural value chain,” said LANDBANK President and CEO Cecilia C. Borromeo.  Development partner in the countryside The LMPC has been a consistent development partner of LANDBANK in the Visayas region since 1992. It is mainly engaged in credit extension through its 56 branches, assisting more than 120,000 farmers and fishers from the provinces of Cebu, Bohol, Negros Occidental and Leyte for their livelihood and agricultural projects. LANDBANK’s unwavering support to LMPC has also allowed the co-op to take on other meaningful projects and initiatives in support of various local communities. The LMPC has participated in the Milk Feeding Program of the Department of Education (DepEd) that benefits thousands of undernourished students from Cebu and Negros Occidental. The co-op has an existing loan line from LANDBANK to augment its working capital for dairy production.  The LMPC is also instrumental in bringing basic banking services to underserved areas by equipping most of its branches with point-of-sale (POS) terminals under LANDBANK’s Agent Banking Program (ABP), to facilitate banking transactions for local residents, especially in remote communities. LANDBANK is the second largest universal bank in the country that is committed to serve the development requirements of cooperatives, thereby empowering them to become catalysts for inclusive growth in the countryside. As of end-October 2022, LANDBANK’s outstanding loans to the cooperative sector have reached P61.4 billion, helping over 1,300 co-ops nationwide.


LANDBANK eyes better services with new branch site in UP Diliman

UP President Atty. Danilo L. Concepcion (2nd from right) and LANDBANK Executive Vice President Liduvino S. Geron (3rd from right) lead the groundbreaking ceremony for the new LANDBANK UP Diliman Branch Building at the UP Diliman Campus in Quezon City on 21 November 2022. DILIMAN, Quezon City – The University of the Philippines (UP) and the Land Bank of the Philippines (LANDBANK) held a groundbreaking ceremony for a four-story building that will house the LANDBANK UP Diliman Branch. Located along Jacinto Street at the UP Diliman Campus, the new site of the LANDBANK UP Diliman Branch will feature a bigger space with more parking slots, to provide members of the UP community, and nearby communities, with more convenient access to the Bank’s products and services.  UP President Atty. Danilo L. Concepcion and LANDBANK Executive Vice President Liduvino S. Geron led the ceremony on 21 November 2022. They were joined by UP Vice President for Development Elvira A. Zamora, UP Diliman Vice Chancellor for Planning and Development Raquel B. Florendo, LANDBANK Senior Vice President Marilou L. Villafranca, and UP Diliman Branch Head Malaine P. Baui.  President Concepcion said that the soon-to-rise building reflects the strong partnership between UP and LANDBANK, adding that the new site is more strategic for the Bank to service the entire UP community.  The construction of the building will be financed by LANDBANK and is expected to be completed by 2024. Aside from the UP Diliman Branch on the ground floor, the building will also house UP offices on the second to fourth floors.  “LANDBANK stands ready in boosting the operational efficiency of the UP Diliman Campus, as well as the entire UP System, through our banking products and services. We are one with the University in undertaking meaningful programs and initiatives in the service of the Filipino people and the nation,” said LANDBANK President and CEO Cecilia C. Borromeo. The new UP Diliman Branch is designed with four on-site automated teller machines (ATMs), to complement LANDBANK’s four offsite ATMs across the campus, with one mobile ATM on standby.  The Branch will also feature a more spacious Digital Banking Corner where customers can open a deposit account in as fast as 15 minutes or less using the Bank’s Digital Onboarding System (DOBS). Opening an account via DOBS provides automatic enrollment to LANDBANK’s digital banking channels, such as the LANDBANK Mobile Banking App and iAccess, for safe and convenient online transactions.


LANDBANK, COOP NATCCO Partylist meet to advance co-op cause

(seated) LANDBANK President and CEO Cecilia C. Borromeo (3rd from right) meets with COOP NATCCO Partylist Representative Hon. Felimon M. Espares (4th from right) and other partner cooperatives on 10 November 2022 to discuss areas of cooperation to respond to the issues and concerns faced by cooperatives nationwide. Land Bank of the Philippines (LANDBANK) President and CEO Cecilia C. Borromeo received COOP NATCCO Partylist Representative Hon. Felimon M. Espares and other partner cooperatives on 10 November 2022 at the LANDBANK head office, to discuss possible areas of partnership related to legislation to advance the cooperative sector in the country. President Borromeo welcomed the dialogue initiative to further strengthen LANDBANK’s continuing efforts to provide financial and technical assistance to co-ops nationwide.  During the group’s courtesy call, LANDBANK discussed available financial support to public transport cooperatives through the SPEED PUV Lending Program, which offers affordable financing for the purchase of more efficient and safer vehicles, in line with the National Government’s Public Utility Vehicle Modernization Program (PUVMP).  In partnership with the Department of Transportation (DOTr), the transport co-ops will soon utilize the Automated Fare Collection System (AFCS), to provide commuters convenient and safe cashless payments in Public Utility Vehicles (PUVs).  The state-run Bank also proposed collaborative initiatives to support the digital transformation of local cooperatives engaged in other industries, and cited various digitalization benefits by local government partners as examples of trailblazing digital programs.  Towards building stronger and more resilient communities, President Borromeo likewise expressed the continued commitment of LANDBANK to provide intensified support to the agriculture sector through co-ops represented by the Partylist group.  Rep. Espares was joined in the consultative meeting by Renato G. Dela Cruz, Vice Chairperson of San Dionisio Credit Cooperative; Brian A. Yap, CEO of the Cebu Peoples Cooperative; Edmund B. Cadavona, Chairperson of the National Federation of Transport Cooperatives; Marlene Sindayen, General Manager of Novaliches Development Cooperative and Representative of the National Anti-Poverty Commission, among other co-op partners. Meanwhile, LANDBANK President Borromeo was with Senior Vice President Filipina B. Monje, Vice President Vivian M. Cañonero, and Assistant Vice Presidents Leonardo D. Aurellana, Jr. and Generoso S. David, and Program Officer Gliceria B. Angeles.