Agricultural and Fisheries (AFFP) Financing Program
Description
Pursuant to the 2013 General Appropriations Act, P1.0 billion shall be used to implement a flexible credit facility for small farmers and fisherfolk who are registered in the Registry System for Basic Sectors in Agriculture (RSBSA), which is intended to serve as an alternative to the rigid and stringent credit facilities usually provided by banks. The funds will be channeled through Government Financial Institutions (GFIs) and cooperative banks. Of the P1.0 billion, P 550 million shall be administered by LANDBANK.
Objectives
Coverage
Eligible Borrowers: Non-ARB Small Farmers and Small Fisherfolk (NASFSF).
Eligibility Criteria
For Service Conduits:
For NASFSF:
Basic Policies
Available Credit Facility:
Purpose
Maximum Loanable Amount: Up to 80% of the total project cost but not to exceed 300,000 per borrower.
Interest Rate: Special Rate.
Repayment Term: Based on cash flow of the project which can be quarterly, semi-annually or annually.
Collateral
Other Features
Assistance to Agrarian Reform Beneficiaries (ARBs)
LANDBANK, in keeping with its social mandate to provide support to landowners as well as the ARBs, also handles the following services:
Agrarian Production Credit Program (APCP)
Rationale: The Agrarian Production Credit Program was developed pursuant to the CARPER Law in partnership with the Department of Agriculture (DA) and Department of Agrarian Reform (DAR).
Coverage: Nationwide
Eligible Borrowers
Basic Policies
Available Credit Facility
Purpose
Availability: Via 180-day Promissory Notes (PN) or depending on the term of the loan.
Interest Rate: Special Rate.
Repayment Term: Based on crop cycle or cash flow.
Collateral
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