Palay farmers among first recipients of loan assistance in Mayantoc, Tarlac

November 10, 2019

(left photo) Mayantoc Mayor Julie P. Icmat (2nd from right) and LANDBANK Branch Banking Sector Head Executive Vice President Joselito P. Gutierrez (rightmost) present palay farmers (L-R) Virginia Gabriel, Arnold Teodoro, and Tirso Sion as the first to avail of the ACEF Loan Program in Mayantoc. (right photo) Meanwhile, Mr. Iggy Castro (3rd from left), owner of Iggy Castro Hardware, is introduced as LANDBANK’s Agent Banking Partner in Mayantoc. They are joined by LANDBANK’s Corporate Banking Group Head Senior Vice President Ma. Celeste Burgos (2nd from right), and Central Luzon Branches Group Head First Vice President Sylvia C. Lim (rightmost).

MAYANTOC, Tarlac – Small farmers of palay in this municipality were among the first availers of the Agricultural Competitiveness Enhancement Fund (ACEF) Lending Program offered by Land Bank of the Philippines (LANDBANK) and the Department of Agriculture (DA).

During LANDBANK’s Financial Inclusion (FI) Forum held here last October 19, 2019 and attended by more than 500 participants, 80% of whom were small farmers,  palay farmers Virginia Gabriel, Tirso Sion, and Arnold Teodoro were recognized as the first loan availers of the ACEF.

“Nagpapasalamat po ako sa LANDBANK dahil malaking tulong pinansyal ang naibigay nila sa akin. Malaking tulong po ito bilang puhunan at budget sa aking pagtatanim,” said Virginia.

ACEF is a special purpose fund which aims to increase the productivity of farmers and fishers, their cooperatives and associations, as well as micro, small, and medium enterprises (MSME) by financing their farming needs such as acquisition and establishment of production, postharvest and processing machineries, equipment and facilities, farm inputs, and improvements.

Launched in 2016, the FI Forum is an initiative of LANDBANK which aims to serve unbanked communities in the country through a half-day forum dubbed “Ipon at Kabuhayan Para sa Ating Kababayan.”

The event was led by Mayantoc Mayor Julie P. Icmat, LANDBANK Branch Banking Sector Head Executive Vice President Joselito P. Gutierrez, Corporate Banking Group Head Senior Vice President Ma. Celeste Burgos, and Central Luzon Branches Group Head First Vice President Sylvia C. Lim.

“Through the Financial Inclusion Forum, LANDBANK aims to bring its products and services closer to the unbanked and underserved communities. We are more than willing to serve the banking needs of the citizens of Mayantoc and finance the farming needs of the local farmers and fishers, to help improve their income and livelihood,” said LANDBANK Executive Vice President Gutierrez.

Modules on financial literacy and LANDBANK’s products and services, particularly its lending programs, were also presented during the forum to help farmers manage their finances properly.

Also introduced during the same event was LANDBANK’s Agent Banking Program where Iggy Castro Hardware, owned by Mr. Iggy Castro, was presented as the Bank’s Agent Partner in Mayantoc.

The LANBANK Agent Banking Program provides the public with basic banking transactions such as Point-of-Sale (POS) cash-out, prepaid card sale, card reload/card refund/withdrawal, balance inquiry, and bills payment.

Through partnerships with client cooperatives, associations, small and medium enterprises (SMEs), and private entities, the Program is targeted to further expand the Bank’s reach in remote and unbanked areas without bank presence.

Mayantoc is the 6th stop of the FI Forums this year. A total of 3,752 farmers and fishers have already participated in all six sites of the FI Forums, which include Sto. Niño, Cagayan; Rizal, Palawan; Libacao, Aklan; Aloguinsan, Cebu; and Las Nieves, Agusan del Norte. The last two FI Forums for this run will be held in Claveria, Misamis Oriental and Polillo Island, Quezon.

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