Guide on Landbank Loan For Farmers Eligibility Requirements Under “Sulong Saka” Offer
LANDBANK LOAN FOR FARMERS – Here is a guide on the qualifications set by the Landbank of the Philippines under the “Sulong Saka” offer.
Undeniably, the farmers are among the people who play the roles that are very important for a lot of people to survive. Without them, many of us won’t have access to rice and other products of the field. However, they are among those who earn very little despite of how necessary their products are.
The good thing is that the top government bank, the Landbank of the Philippines, is willing to assist them financially. The bank has several offers.
Under the “Sulong Saka”, a Landbank loan for farmers, a farmer growing banana, cacao, oil palm, coffee, rubber, and vegetables among others may borrow some money for capital. It is open for the following purposes:
• Fixed Asset Acquisition
• Building Construction
• Production Loan
• Rediscounting
• Working Capital/Commodity Loan
• Permanent Working Capital
Like in other loans, the bank has set eligibility requirements under this Landbank loan for farmers. To be eligible to apply for the “Sulong Saka”, the applicant must:
- pass the bank’s Risk Asset Acceptance Criteria (RAAC)
- be having a farm area of at least 0.5 hectare but not more 5 hectares
- have no existing loan with Landbank
- be a landowner or a leaseholder
- For landowners – must be an actual tiller / supervising farming activities and must have a land title
- For leaseholders – must have written or notarized lease
- have an identified market for his or her products
To apply for the said loan offer, you may visit the nearest Landbank branch to you. The requirements may vary depending on the applicant.
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