CBMPC Applies as ACPC’s Conduit for Zero Interest Loans for Members
CBMPC is intensively pursuing its application to be one of the Partner Lending Conduits (PLCs) of the Agricultural Credit Policy Council (ACPC), an attached agency of the Department of Agriculture (DA). ACPC was created to assist the DA in synchronizing all credit policies and programs in support of the latter’s priority programs. It was also tasked to monitor and evaluate the economic soundness of all credit programs and undertake action research to ensure the continuous flow of credit in agriculture. More importantly, ACPC is mandated to extend timely financial assistance to small farmers, fisherfolk and Agripreneurs at easy/affordable terms (zero interest rate and collateral-free loans).
Since ACPC is more of a policy institution, it channels its financial resources through its “Partner Lending Conduits (PLCs)” Under a fund administration arrangement, the PLCs, composed mainly of Government Financial Institutions, rural banks, cooperative rural banks, cooperatives and other Non-Government Organizations, will conduct the final loan evaluation and release of funds to the eligible borrowers.
The following credit programs of ACPC will be made available to CBMPC members once the PLC accreditation is approved. CBMPC will only be charging a minimal supervision fee on all loan availments in these credit programs as follows:
Credit Program | Loan Features |
Kapital Access for Young Agripreneurs (KAYA) • Provision of finan- cial assistance to Yaggies (young Agripreneurs) to fund the capital needs of their Agri-fishery business. | • Available to young Agripreneurs aged 18-30 years old • Graduates of Agri-fishery related course (diploma) or training course (certificate of completion) • Loanable amount is up to P500k Maximum term is 5 years/ depending on project cash flow |
Expanded Survival and Recovery Assistance (SURE Aid) Project • A quick response calamity/disaster support facility that provides an immediate financial assistance package to those affected by natural calamities and ECQ due to Covid-19 | • Available to Small Farm- ers & Fisherfolk (SFFs) and Micro & Small Enterprises (MSEs) whose incomes and Agri-fishery activities were affected by calamities and Covid-19 • Loanable amt: SFFs – P25k; MSEs - up to P10M Maximum term: SFFs -10 yrs.; MSEs – 5 yrs. |
Agri-Negosyo (ANYO) • Funds the capital requirements of eligible borrowers to enable them to improve the efficiency, productivity and profitability of their agribusiness activities within the value chain | • Eligible borrowers: SFFs, MSEs/organizations, OFWs, female members of SFF households • Loanable amt: MSEs – up to P15M; SFFs/OFWs –up to P300k; Agri Pinay – up to P100k Maximum term: up to 5 years depending on project cash flows |
CBMPC has already submitted all the primary documentary requirements to ACPC. During the ACPC orientation meeting held last 6th of June, CBMPC was given assurance that our application will most likely be given a favorable consideration.
In the meantime, let us get busy in getting our proposed projects/businesses ready if we are interested in getting interest-free and collateral-free loans. Let us also encourage and motivate our young members (children of our retirees) to start getting involved in agribusiness and become successful agripreneurs in the future.
The coop management will keep you posted on the development/availability of our ACPC partnership.
About Post Author
