The AgriBiz Production Loan is a loan product intended for individual farmers and farmer organizations in the business of producing Agricultural commodities.
Loan Amount
The loan amount ranges from P50,000 to P300,000. Loan amount is computed based on farm plan and budget.
Loan Purpose
All or any of production and post-harvest related expenses that correspond to the agreed farm plan and belong to items stipulated below:
- Purchase of inputs
- Payment for labor in maintaining and harvesting in the farm
- Rental of machineries necessary in cultivating the farm
- Logistics expenses for buying inputs, hauling of harvest from farm to post-harvest facilities, processor and/or to buyer
- Payment for post-harvest fees necessary to sell the produce to the next buyer
Acceptable Agri/ Fishery Activities
- Production of Commercial Crops/Fruits
- Raising of Livestocks and Poultry
- Production of Aquaculture/Fisheries
- Other Agri Production
QUALIFICATION
- 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
- Farm or business is already establish and has been operating for at least three years
- Land owners, tenants, agra beneficiaries with at least five years farming experience or exposure i.e., basic involvement in farming activity
- With at least one secondary income source (such as salary, income from business, other agri-activity not similar to the primary business)
- Resident in the branch trade area for at least three years
- 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
Term
Based on gestation period and allowance to accommodate post-harvest processes.