One of their programs to support the agricultural sector for the small farmers, fisherfolks and small business that focuses on agricultural products is the Agricultural Competitiveness Enhancement Fund (ACEF). This is a loan program that aims to assist their cooperatives or association. Especially those who need funds for machines and post-harvest facilities to further improve the quality of their production of their products.
ACEF can lend as much as 90% of the total amount needed for the project for the farmers and fishers, however, it must not exceed to P1-Million; and as much as P5-Million pesos for cooperatives and associations, and micro and small enterprises.
Landbank only requires few requirements to apply in ACEF programs for the convenience of the borrowers and to assist more small businesses. They only need to accomplish loan application form, business or farm plan, which they can ask assistance from loan facilitating teams of Department of Agriculture. They also need to present proof of land ownership or lease of hold contract and other clearances from their Local Government Unit. They can visit any Landbank branches in the region for the list of requirements and process of their loans.
Landbank Zamboanga Lending Center recorded a total of P11.1 million in outstanding loans for 90 farmers and fisherfolks as of 2022. They continue to encourage the farmers and fishers to avail their programs that may help them improve their small business and production. (RVC/MLE/PIA9-Zamboanga City)
