Last year, the corporation facilitated the release of P2.447 billion to 97,721 small-and-medium-enterprises (SME) in the agri-fishery sector which generated 22,400 jobs.
Quedancor’s program for agri-fishery SMEs was conceived to:
(1) Provide credit access to target clients engaged or will engage in joint venture projects or production, processing, marketing, acquisition of production and/or post-production facilities and machinery and equipment.
(2) Wholesale funds or provide guarantee to lending entities willing to extend credit to agri-fishery SMEs with viable projects but without collateral or deficient in collateral.
Eligible projects under the program: grains (rice and corn), fisheries, livestock and poultry, high value crops such as coffee, banana, cassava, coconut, asparagus, retailing, re-lending and livelihood programs.
Eligible clients for retail lending: processors, integrators, sole proprietors, partnerships, corporations, federations, associations, cooperative and SMEs.
For guarantee/wholesale lending: lending entities and conduits who have gone track record in lending and are willing to finance the eligible projects of target clients.
Security requirement under various Quedancor programs for SMEs:
For loans up to P50,000: (1) Joint and several signatures of members of the SRT group; and (2) Deed of assignment of receivables supported by a marketing contract/agreement, if applicable.
For loans above P50,000: (1) Joint and several signatures (JSS) of members of the SRT group; (2) Deed of assignment of receivable supported by a marketing contract/agreement, if applicable, and (3) A loan guaranteed from the participating LGU or buyer firm.
For individual borrowers (entity and non-entity). For loans up to P50,000: (1) Continuing deed of assignment of stock-in-trade with trust receipt agreement (for food/market retailers/sari-sari stores) or deed of assignment of seceivables; (2) co-makers.
For loans above P50,000: (1) At least 80 percent REM or at least 80 percent combination of REM, non-interest bearing cash trust fund, bank time deposits, Landbank/government bonds/securities and similar investments and (2) Deed of assignment of receivables supported by marketing contract/agreement, if applicable.
To be eligible for the loan, individual borrower must have an equity equivalent to at least 20 percent of the total project costs. The borrower’s equity can be in the form of agri-fishery machinery and equipment, input or labor.
In addition, borrowers (except LGUs, National Government agencies and government-owned-and-controlled corporations) shall be required to issue post-dated checks to cover all loans amortizations, and execute joint and several signature (of officers or authorized representatives for corporations, cooperatives, federations, associations and other entities with juridical personality).
As of September, these are the loan programs of Quedancor: Seaweeed and fish culture; small retail enterprises; livestock and poultry, inbred rice seeds, coffee, hybrid corn, asparagus, banana, corn and feedstock, cotton, poultry, corn, cassava, corn, sorghum, soybean.
Agro-industry modernization credit and financing program for countryside lending conduits, cooperative lending, pioneering technology for exportable agricultural products for long gestating crops, agri-aqua inventory management.