DA Launches Loan Programs for Youth, Agri-Fishery Enterprises
The Department of Agriculture (DA) has launched two new loan programs aimed at addressing the needs of small farmers and fisherfolk and encouraging the youth to go into agriculture.
The Kapital Access for Young Agripreneurs (KAYA) Program will finance capital requirements of start-up or existing agri-based projects of young entrepreneurs and agri-fishery graduates who are 18-30 years old. KAYA offers up to P500,000 loan per borrower, payable in not more than five years at 0% interest, with a management fee of not more than 3.5%.
The Agri-Negosyo Program, meanwhile, will finance income-generating agri-fishery activities and working capital and/or fixed asset acquisition requirements of individuals/sole proprietors, partnerships, corporations, and cooperatives whose owners or members are marginal or small farmers and fisherfolk. Agriculture Secretary William Dar said the program will help individuals or enterprises that want to scale up their business.
Under the program’s Micro Agri-Negosyo Loan facility, borrowers may loan up to P300,000 payable up to five years and channelled through the Agricultural Credit Policy Council’s lending conduits. In the Small Agri-Negosyo Loan facility, borrowers can avail of loan amounting to P300,000 up to P15 million payable depending on the loan purpose and channelled through government financial institutions.
The two programs each have an allocation of Php 1 billion. For details on how to avail of loans, click here. (Source: DA-ACPC)