AgriBiz Lite
Aims to provide financial capital to agricultural value chain players, such as but not limited to producers, growers, traders, consolidators, processors and input dealers / retailers, including farmers or growers for certain agricultural products or activities. These players must be capable of earning an income on a weekly, semi-monthly or monthly basis, with certain exceptions allowed for lump sum payments depending on the nature of business.
Loan Amount
The loan amount ranges from P150,000 to P500,000. Loan amount is computed based on farm plan and budget.
Loan Purpose
- Acquisition of additional work animals, farm, fishery equipment and machinery
- Construction, acquisition and repair of post-harvest facilities for production, processing, storage and such other facilities in support of agriculture and fisheries
- Production-related expenses such as but not limited to planting of crops and purchase of agricultural inputs approved by the Board
- Acquisition and maintenance of farm lots
Acceptable activities are as follows:
- Agribusiness (Trading of feeds and agrivet supplies, rice, corn, cassava, banana, cacao, coconut etc.)
- Poultry growing or trading (layer, fattening or trading of chicken)
- Hogs growing or trading (fattening or trading of piglets)
- Other livestock growing or trading (goat, cow, etc.)
- Plant nurseries (cacao and other high value crops)
- Agro-processing activities (processing or manufacturing of agri-based products)
- Culturing and processing of fishery and/or aquatic resources (dried fish processing, seaweeds processing etc.)
- Crop production activities such as but not limited to sugarcane and banana
Qualification:
- Single Proprietorship, Partnership, Corporation or Cooperative
- Borrower must be 21 years old at the time of loan application, and should not exceed 70 years old at the time of loan maturity
- Resident in the branch trade area for at least three years
- Farm or Business is already established has been operating for at least three years
- Business is generating a daily, weekly, semi-monthly or monthly income
- Acceptable adverse record with local and national credit bureaus and/or negative findings in any credit investigation reports
- Willing to open a Contractual Savings with RMB and save while there is an active loan
Frequency of Payment:
- a) Weekly, semi-monthly or monthly frequency of payment.
- b) Quarterly principal, monthly interest
- c) Lump sum principal, monthly interest
- d) Grace period on principal depends on loan purpose but not more than six months
*Terms and Conditions