Kasaka Loan (Supporta sa mga magsasaka program)
Kasaka loan aims to promote rural development by uplifting the lives of small farmers by supporting them in their financial requirements and minimizing or cutting their dependence on informal lenders, to maximize farmer's use of their finances and to be a partner of government in rural progress.
Criteria for Individuals
- Member or a non-member of a farmer organization/association
- 21 to 75 years old and permanent resident of a place where RBI units are located
- Purpose of loan must be purely for crop or livestock production only
- Willing to open a savings account (for noncustomers)
- Must be willing to maintain a savings deposit at least 20% of credit line
- Borrower must have 1 comaker (co-member/officer of an association or as individual co-farmer or family member with an income)
Criteria for Organization/Association
- Must duly recognized by law at least upon registration
- Must have at least 15 or more members including officers
- Must accept the covenants imposed by the bank
Requirements for Individuals
- Certification as Farmer from Barangay Captain or Association, if tenant, State the landowner or Leasehold contract with landowners
- Certification from Association of good moral character or as law-abiding member/officer, if any
- Photocopy of at least 1 government issued ID
- Barangay Clearance
- 2 pcs 2x2 updated ID pictures
- 3 months payslip if employed
- Marriage Certificate/CENOMAR
- Proof of Billing
- Savings Account with the bank (both farmer and association)
Other Requirements for the Association / Organization where the borrowers are members of
- Letter of intent to avail of "RBI suporta sa Magsasaka Program" of the bank
- MOA between the bank and the Association
- Articles of Incorporation and By-laws with list of officers
- SEC Registration, if any
Disclosure:
Other collateral documents will be required prior to loan booking and assessment of submitted initial requirements.
All loan application are subject to credit review and evaluation before approval.
