Guide on Landbank Farmers Loan Application Qualifications
LANDBANK FARMERS LOAN – Here is a guide on the qualifications set by the Land Bank of the Philippines in applying for a farmers’ loan.
In times of financial need, people can turn to different agencies to obtain funds. Some of these are banks that offer loans. In the Philippines, there are several government-owned and private commercial banks that you can turn to for loans.
Most individuals undeniably prefer state-run banks because of lower interest rates and affordable monthly due offers. One of the state-run banks that you can turn to for loans is the Land Bank of the Philippines.
Among the Landbank loans are the offers for farmers and fishermen. The state wants to help farmers and fisherfolks in their livelihood by lending them amounts that could help provide for their needs in farming or fishing.
There are several Landbank Farmers Loan offers. One of these is the “Sulong Saka Program”. It aims to support farmers of high-value crops like coffee, cacao, and banana produce, process, or market their products.
Who are qualified to apply for this Landbank Farmers Loan offer? The government-owned bank has listed some qualifications in applying for the loan offer under “Sulong Saka Program”.
Qualifications for Landbank Farmers Loan Offer:
Borrowers:
- Individual Small Farm Holders
- Small and Medium Enterprises (SMEs)
- Cooperatives
- Farmers Associations/Organizations
- Large Agribusiness Enterprises (LAEs) /Corporation
- Local Government Units (LGUs)
- Non-Government Organizations (NGOs)
- Countryside Financial Institution (CFIs)
Criteria:
To be eligible, the application must pass the Risk Asset Acceptance Criteria (RAAC) set by the bank prevailing upon the application.
- Small Farmers
- minimum farm area of 0.5 hectare but not exceeding 5 hectares
- landowner or leaseholder of the lot
- Landowners
- actual tiller or supervisor of farming activities
- holding land title
- Leaseholder
- written notarized lease
The borrower must have no existing loan with Landbank. To apply for the offer, you may visit the branch of the bank nearest to you.
You may also visit – Apply for Landbank Housing Loan: The Steps & Requirements
