Landbank approves P1.1B in loans to support local onion industry

State-run lender Land Bank of the Philippines said Friday it has approved over a billion pesos worth of loans to support the growth of the local onion industry.

Under the program, small farmers may borrow up to 90% of the total project cost for a production loan, while a maximum of 80% may be borrowed by small and medium enterprises , cooperatives, farmers’ associations and organizations, large agribusiness enterprises and corporations, non-government organizations , and countryside financial institutions .

Local government units may likewise avail of financial support under the Sulong Saka Program, provided that the loan amount will not exceed their net borrowing capacity, as certified by the Bureau of Local Government Finance , Landbank said.

Loan - who will pay, Pilipino citizens?

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Max’s sidesteps headwinds as 9-month profit jumps by 82% - BusinessMirrorMax’s Group Inc., the casual dining restaurant operator, said its income in January to September grew 82 percent to P427.32 million from last year’s P234.5 million. The company said last year’s income included a one-off gain of P377 million from the sale of a subsidiary whose primary asset is land. “We have achieved in successive
Source: BusinessMirror - 🏆 19. / 59 Read more »