Quedancor to launch 8 new credit guarantee programs

The Quedan and Rural Credit Guarantee Corp. (Quedancor) is set to launch eight new credit guarantee programs as part of the credit component of the Department of Agriculture’s Ginintuang Masaganang Ani — Countrywide Assistance for Rural Employment and Services (GMA-CARES).

GMA-CARES is the newest comprehensive agricultural productivity enhancement project under President Arroyo’s social reform agenda and meant to complement the administration’s outlined priorities in poverty reduction, good governance and leadership by example and people empowerment.

The eight financing programs under GMA-CARES are: financing program (FP) for coconut smallholders, FP for Philippine dairy, guarantee program for agri-fishery mechanization, FP for joint agri-business ventures, FP for women entrepreneurs, FP for seaweed and fish culture, FP for livestock and poultry and FP for small retail enterprises.

The FP for coconut smallholders seeks to provide working capital, warehouse and other post-harvest facilities and equipment to coconut farmer cooperatives to allow them to sell their produce directly to oil mills and enjoy better prices, thus eliminating multi-tiered trading arrangement.

The FP for dairy seeks to provide credit and guarantee facilities for basic capital and medium and long-term investment needs of co-ops, NGOs, LGUs engaged or will engage in the dairy business.

The guarantee program for agri-fishery mechanization seeks to establish a guarantee facility that will secure the purchase on credit of agriculture and fishery and equipment by agri-fishery enterprises, farmers and fisherfolk.

The FP for joint agri-business ventures is geared to establish credit windows for farmers, cooperatives and processors engaged or will engage in joint venture agreements using new technologies for various crops.

The FP for women entrepreneurs seeks to empower women to start or expand agri-fishery related enterprises, especially microenterprises through credit and guarantee windows for all aspects of marketing agricultural produce, small-scale enterprises related to manufacturing and food catering services.

To extend working capital to farmers, cooperatives, NGOs, processors, integrators, sole proprietors, partnerships and corporations engaged in fish culture and in the production, processing, manufacturing and trading of seaweed is the main objective of the FP for seaweed and fish culture.

The FP for livestock and poultry seeks to improve the living and income position of poultry, hog and livestock raisers and their cooperatives and associations by encouraging them to use modern facilities and equipment for greater production and output, as well as ensure the quality of meat and meat products.

The FP for small retail enterprises seeks to provide alternative source of credit for small retail enteprises and to encourage private banks and other lending institutions and NGOs to lend to small retail enterprises even without collateral.