Farmers, fishers, Micro and Small Enterprises (MSEs), and cooperatives can boost their productivity through this Bank’s affordable lending program. Read this article to learn more. [GMABrandTalk] [LBP_Official]
LANDBANK helped Isabela corn farmer Levy Mateo turn down private lenders with unfair terms. She now enjoys an affordable interest rate of only 2% per annum under the ACEF Lending Program, allowing her to save for the future and provide a more comfortable life for her family.
But despite Levy’s diligence over the years, she struggled to enjoy her earnings and save for her family’s future, as she had to allocate a large portion of her income to pay the hefty interest from loans she regularly availed from a private lender. At the height of the Covid-19 pandemic in 2020, Levy’s income decreased further due to the limited movement of goods and strict imposition of lockdowns in the area. She was then faced with a grim circumstance: if she continued to avail of high-interest loans from the mill, there will be almost nothing left for her family and their daily expenses.
With the Program’s affordable interest rate of only 2% per annum, Levy was able to provide a more comfortable life for her family while repaying her loan on time. She was also free to choose a buyer in the market who can offer the best price for her produce, which can reach as high as P1,000 per cavan, multiplied by Levy’s average yield of 400 cavans per harvest.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Isabela corn farmer enjoys bountiful harvest with LANDBANK aidUnder the program, the corn farmer availed of an initial loan for working capital amounting to P120,000—which has since grown to P600,000—for the purchase of farm inputs such as seedlings and fertilizers.
Read more »
Iya Villania, Drew Arellano's son Primo helps brother Leon learn the alphabetPrimo Arellano is doing his "kuya" duties by teaching his younger brother the correct order of the English alphabet.
Read more »
Bangsamoro leaders visit Northern Ireland for lessons on transition to peaceDAVAO CITY (MindaNews / 05 March) – Several leaders of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) recently visited Northern Ireland to learn from peacemakers and politicians on the…
Read more »
The Green Report: Reclamations, earthquakes, and the Philippines' energy transitionIn this episode of TheGreenReport, Jee Geronimo and Iya Gozum talk to Dr. Kelvin Rodolfo, one of Rappler’s thought leaders and an expert on natural hazards, geology, and environmental science.
Read more »
Isabela corn farmer enjoys bountiful harvest with LANDBANK aidUnder the program, the corn farmer availed of an initial loan for working capital amounting to P120,000—which has since grown to P600,000—for the purchase of farm inputs such as seedlings and fertilizers.
Read more »
LandBank hikes lending fund for PUV modernization to P10BState-run Land Bank of the Philippines on Sunday said it has hiked anew its lending program funding for transport cooperatives and corporations to P10 billion, for them to comply with the government’s contested Public Utility Vehicle (PUV) modernization program.
Read more »