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Monday, July 17, 2017

Sikat Saka: Department Of Agriculture and Landbank Assistance To Small Rice Farmers


OFWs can earn more than what they are getting abroad by venturing to farming.  A lot of former OFWs has proven it. They started in tilling a small portion of farm with very small capital and after kickstarting, they are now earning more than when they were working overseas. In order to do this, you can use your savings from the money you earned from working abroad or you may avail the loan assistance from the bank, particularly the Landbank of the Philippines which offers assistance to small local farmers through their programs in coordination with the Department of Agriculture.  The DA Sikat Saka Program offers a direct credit window from LANDBANK and integrated support from the Department of Agriculture to small palay farmers to improve their creditworthiness and the viability of crop production.  Program Partners and their Basic Roles  Agricultural Credit Policy Council (ACPC) – provides support funds and conducts evaluation  National Food Authority (NFA) – provides market for palay  National Irrigation Administration (NIA) – identifies, mobilizes and guides Irrigators Associations (IAs) to become credit consolidators  Agricultural Training Institute (ATI) – provides extension and training services on organizational strengthening, including financial management and credit discipline to small farmers  Philippine Crop Insurance Corporation – provides insurance coverage for loans under the program   Eligible Borrowers  Small palay farmers in irrigated lands   Eligible Criteria   For Service Conduits  Irrigators Association  Must be in good standing as certified by NIA or Municipal Agriculturist if the IA is supervised by the LGU  Small Water Impounding Stem Associations (SWISA)  Must be in good standing as certified by the Bureau of Soil and Water Management (BSWM)  For Small Palay Farmers  Owns or tills at least ½ hectare of irrigated land but not to exceed 5 hectares  A member in good standing of an Irrigators Association (IA) or Small Water Impounding System Association (SWISA)  Without outstanding loan for palay production purposes with LANDBANK and other financing institutions at the time of loan application  Attended a seminar on financial education or any similar training to be conducted by ATI Coverage  Forty five (45) major rice producing provinces, nationwide   Eligible Projects  Palay Production   Loanable Amount  The amount of loans shall be based on the credit needs of the farmer per farm plan and budget but not to exceed the following prescribed loan ceiling for palay production:  P41,000 per hectare for Inbred variety  P50,000 per hectare for Hybrid variety   Loan Tenure  2-year credit line for palay production via 180-day Promissory Note   Interest Rate  15% for the first 2 crop cycles  Reduced by 1% for the every succeeding cycle on loans fully paid on time up to the 8th cycle   Other Features  Incentives are given to Irrigators Associations that provide administrative support to small palay farmers-borrowers provided that their loans are paid on time and at least 90% collection fee is achieved  Farmers-beneficiaries are required to open a special LANDBANK ATM account with specially designed DA Sikat Saka ATM Cards Source: Landbank Read More:       ©2017 THOUGHTSKOTO


OFWs can earn more than what they are getting abroad by venturing to farming. 
A lot of former OFWs has proven it. They started in tilling a small portion of farm with very small capital and after kickstarting, they are now earning more than when they were working overseas.
In order to do this, you can use your savings from the money you earned from working abroad or you may avail the loan assistance from the bank, particularly the Landbank of the Philippines which offers assistance to small local farmers through their programs in coordination with the Department of Agriculture.


The DA Sikat Saka Program offers a direct credit window from LANDBANK and integrated support from the Department of Agriculture to small palay farmers to improve their creditworthiness and the viability of crop production.


Program Partners and their Basic Roles 
Agricultural Credit Policy Council (ACPC) – provides support funds and conducts evaluation 
National Food Authority (NFA) – provides market for palay 
National Irrigation Administration (NIA) – identifies, mobilizes and guides Irrigators Associations (IAs) to become credit consolidators 
Agricultural Training Institute (ATI) – provides extension and training services on organizational strengthening, including financial management and credit discipline to small farmers 
Philippine Crop Insurance Corporation – provides insurance coverage for loans under the program 

Eligible Borrowers

Small palay farmers in irrigated lands 

Eligible Criteria 

For Service Conduits 
Irrigators Association 
  • Must be in good standing as certified by NIA or Municipal Agriculturist if the IA is supervised by the LGU 
  • Small Water Impounding Stem Associations (SWISA) 
  • Must be in good standing as certified by the Bureau of Soil and Water Management (BSWM) 
  • For Small Palay Farmers 
  • Owns or tills at least ½ hectare of irrigated land but not to exceed 5 hectares 
  • A member in good standing of an Irrigators Association (IA) or Small Water Impounding System Association (SWISA) 
  • Without outstanding loan for palay production purposes with LANDBANK and other financing institutions at the time of loan application 
  • Attended a seminar on financial education or any similar training to be conducted by ATI

Coverage 
Forty five (45) major rice producing provinces, nationwide

Eligible Projects
Palay Production

Loanable Amount

The amount of loans shall be based on the credit needs of the farmer per farm plan and budget but not to exceed the following prescribed loan ceiling for palay production:
P41,000 per hectare for Inbred variety
P50,000 per hectare for Hybrid variety

Loan Tenure 
2-year credit line for palay production via 180-day Promissory Note

Interest Rate
15% for the first 2 crop cycles
Reduced by 1% for the every succeeding cycle on loans fully paid on time up to the 8th cycle

Other Features
Incentives are given to Irrigators Associations that provide administrative support to small palay farmers-borrowers provided that their loans are paid on time and at least 90% collection fee is achieved
Farmers-beneficiaries are required to open a special LANDBANK ATM account with specially designed DA Sikat Saka ATM Cards


For inquiries you can visit any Landbank branches in your area.
Source: Landbank


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