AGRI-MACHINERY LOAN
Loan terms and conditions
Purpose of Loan
- Financing of all brand and type of agricultural machineries for farmers to increase farm production.
- Advanced technological equipment for farming with above PhP 300,000.00 value.
- Fixed assets acquisition of farming equipment for farming.
Loan Processing Requirements
- Application Forms duly filled-out and signed by the applicant/s
- 2 x 2 ID Picture
- 2 Valid IDs
- Community Tax Certificate
- Mayor’s or Business Permit (if applicable)
- Financial Statements or Income Tax Return (if applicable)
- Bank Statement/ Passbook for the past three (3) months
- Certificate of Employment (if applicable)
- Photocopy of land title (with Special Power of Attorney if property is not under the client’s name
- Proof of ownership of other properties
- MARO/ BARC/ PARO Certificate of tenancy/tillage
- Price quotation from dealer
Eligibility Criteria
- A Filipino citizen or any juridical person recognized and licensed in the Philippines, i.e. Cooperatives
- 18-75 years of age depending on health condition of the applicant
- Within the present serving area
- Not engaged in illegal activities
- Must have a good credit record with banks and other lending institutions
- With stable source of income
- Farmers-land owners engaged in palay agricultural production
- Should be registered land owners
- Businessmen with stable source of income
- Must not be an accommodation
- Must not been turned down by another branch