IN WESTERN VISAYAS | Farmers, youth urged to avail of interest-free loans from DA

Share on facebook
Facebook
Share on twitter
Twitter
Share on email
Email

BY MARCHEL P. ESPINA

Farmers, youth, and overseas Filipino workers in Western Visayas are urged to avail of three loan credit programs of the Department of Agriculture’s Agricultural Credit Policy Council.

The DA Region 6 said, as of September, a total of P96.53 million in loans, under its Expanded Survival and Recovery Covid-19 loan program, were released to 3,534 small farmers and fisherfolk in Western Visayas. Each beneficiary availed of at least P25,000 in loan that is payable up to 10 years.

Of the amount released, P25 million went to farmers from Iloilo, P24.9 million to Aklan, P15 million to Negros Occidental, P11.8 million to Antique, P9.8 million to Capiz, and P1.8 million to Guimaras.

The DA said the credit program offers up to P10 million loanable amount to micro and small enterprises that are into agri-fishery production and trading.

Farmers’ cooperatives and associations registered with the Cooperative Development Authority, Securities and Exchange Commission, or with the Department of Labor and Employment can access the loaning facility, the agency said.

Maria Teresa Solis, DA regional agricultural credit desk officer, said the program seeks to provide the farming and fishery stakeholders with capital to finance their agri-fishery related production, processing, trading, and marketing activities.

“Since many had lost their jobs due to the pandemic, there are only a few who are buying the produce of the farmers. The DA-ACPC devised this program to provide farmers with capital to finance their production requirements,” Solis added.

Other credit facilities in the program are the Kapital Access for Young Agripreneurs (Kaya), and the Agri-Negosyo.

The Kaya program provides young agripreneurs, aged 18 to 30 years old, with up to P500,000 in loan to finance their start-up or existing agri-fishery enterprises. It is payable in five years.

Anyo, on the other hand, offers zero-interest loans to finance the capital requirements for production, processing, marketing, procurement of machinery and equipment, and even construction of relevant facilities of farmers, farmers’ cooperatives and associations, OFWs, and MSEs.

They can borrow up to P15 million without interest and collateral.

Interested loan applicants can visit www.acpc.gov.ph or coordinate with their respective provincial agricultural credit desk officers for the requirements, and loan procedures.*

YOU MAY ALSO READ

Read Article by date

October 2020
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031