Quedancor marks 29th year in agri lending

This year, the Quedan and Rural Credit Guarantee Corp. (Quedancor) will celebrate its 29th year in the agribusiness community. Being in the business for almost three decades now, Quedancor enjoys an edge in providing credit to farmers, fishermen, grains retailers and small scale agribusiness entrepreneurs.

Attached to the Department of Agriculture, Quedancor released last year P3.9 billion worth of credit to the agriculture sector, generating more than 150,000 jobs. Close to P46 billion worth of agri-credit loans cascaded down to the countryside for the past three decades benefiting over three million Filipinos.

Quedancor president and CEO Nelson C. Buenaflor said the corporation hopes to surpass its projected loan target of P6.2 billion for the year.

To shore up its resources and widen its reach, Quedancor has partnered with some of the country’s leading commercial and universal banks and other government financial institutions.

Among the major partner banks of Quedancor are: United Coconut Planters Bank, First Metro Investment Corp., The Manila Banking Corp., Allied Banking Corp., Land Bank of the Philippines, Philippine Veterans Bank, GE Money Bank and Asia Trust Bank.

The Agricultural Credit Policy Council (ACPC) also plays an important role in Quedancor’s fund sourcing for its various agricultural programs and projects. It has tapped Quedancor to be one of the Agro-Industry Modernization Credit and Financing Program (AMCFP) fund wholesalers. A P400-million fund under the AMCFP was provided by ACPC for Quedancor’s fishery and countryside lending conduits (CLC) programs last year. In addition, P150 million was recently released by ACPC for the said programs and another P127 million for tobacco and tomato programs.