A total of P11,250,000 million credit fund was disbursed to 450 small farmers and fishers from Negros Occidental as part of the implementation of the Department of Agriculture – Agricultural Credit Policy Council’s (DA-ACPC) SURE COVID-19 Loan Program.
Each borrower, whose incomes were affected by the lockdown restrictions imposed to prevent the spread of COVID-19, received an uncollateralized and no-interest P25,000 loan payable up to 10 years.
“Nagpapasalamat ako sa Department of Agriculture at ACPC dahil isa ako sa mga benepisyaryo ng SURE COVID-19. Gagamitin ko ito bilang additional input capital para sa maliit kong negosyo,” said fisherfolk-borrower Fernando Jacinto.
The DA-ACPC tapped La Castellana 1 Personnel Multi-Purpose Cooperative (LC1PMPC) and the Escalante City Government Employees and Community Multi-Purpose Cooperative (ECGEM) as partner lending conduits in the province.
The DA-ACPC, together with the DA-RFO 6 and local government units, are expected to release loans to more farmers and fishers in the coming days. Currently, those areas served by the program include the Municipalities of Calatrava, Toboso, La Castellana, Moises Padilla, Pontevedra, Isabela, Valladolid, Hinigaran, Kabankalan, La Carlota, Himamaylan, and the City of Bacolod.