Guide on Producers Bank Livestock Loan Application Process
PRODUCERS BANK LIVESTOCK LOAN – Here are the important details about this special loan offer for the qualified poultry and hog raisers and how to apply.
In the Philippines, a part of the Filipino population is composed of individuals who are poultry and hog raisers. These people raise ducks, chicken, turkeys, geese, and domestic pigs. Truth be told that while it can be done at the backyard, it may require a huge amount of money to feed these animals.
Meanwhile, in the case of the poultry and hog raisers with an existing contract with San Miguel Foods, Inc. Danway, Tyson, Foster, and a lot more, there is an option — the Producers Bank Livestock Loan.
The Producers Bank has more than 250 branches across the nation thus its offers are really accessible to a lot of people. It has several loan offers which also include the Producers Bank SME Loan, the Producers Bank Car Loan, and the Producers Bank Crop Loan.
The Producers Bank Livestock Loan is designed to provide for the working capital, the acquisition of equipment and/or the construction of poultry/piggery building. It is open for poultry and hog raisers who are running a business that is stable and profitable for the last two (2) years.
Under the loan offer, the loanable amount is Php 1 million and up based on the capitalization requirements and the cash flow of the project. According to the bank, a bigger amount may be accommodated based on the business’ requirements.
The loan shall be secured on a 2:1 ratio by Real Estate Mortgage (REM). Here are the documents that the bank requires in applying for the loan offer:
- Business permit & DTI Registration
- TCT/fully paid EP/OCT
- Audited FS and ITR (comparative for at least two years)
- Tax Declaration with tax receipt for current year and tax clearance
- Location plan with vicinity map
- Barangay and Court Clearances
- Bank Statements from other banks
- CTC of borrower
- ECC (Environmental Compliance Certificate)
- CASA deposit with Producers Bank