The Farm Tourism Financing Program aims to assist farm tourism operators to develop farm tourism camps or activities that allow visitors to experience and enjoy farming or fishing through education and recreation or leisure.
ELIGIBLE BORROWERS
• Farm Tourism Operators/Investors that may be:
– Sole Proprietorship/Partnership
– Cooperative
– Farmers Association/Organization (with legal personality
to borrow)
– Corporation
• Local Government Units (LGUs); and
• State Universities and Colleges (SUCs) with issued Multi-Year Obligation Authority (MYOA) from the DBM
ELIGIBLE PROJECTS
• Development/Improvement of Farm Tourism site/camp, including construction of facilities and amenities
• Crop, livestock and fishery production and marketing
• Homestay improvement/renovation/expansion
• Acquisition of transport facilities
• Construction of training centers related to the tourism project
• Construction of Tourism Roads (LGUs)
• Other Tourism Projects
LOAN PURPOSE
• Fixed Asset Acquisition/Construction (FAA/C)
• Production Loan
• Working Capital
• Permanent Working Capital (PWC)
LOANABLE AMOUNT
Up to 80% of the total project cost or financing requirement
INTEREST RATE
Regular pricing structure based on identified client sector
TERM OF LOAN
• STLL – one year line available via PNs depending on cash cycle
Term Loan
• PWC-maximum of three (3) years
• FAA/C-Based on project cash flow/payback period but not more than the economic useful life of fixed assets or remaining useful life for second-hand/refurbished machines/equipment
OTHER FEES
Standard LANDBANK fees and charges for loans shall apply.
LOAN SECURITY
• Any or combination of the following:
• Real Estate Mortgage
• Chattel Mortgage
• Assignment of Receivables
• Assignment of guarantee, surety, insurance and other similar instruments whichever is/are applicable
• Other collaterals acceptable to the Bank
BASIC CONSIDERATIONS
• Proponent shall secure DOT certification for existing Farm Tourism projects.
• For new farm tourism projects, borrower must execute a Deed of Undertaking that he/she will secure a certification from DOT.
DOCUMENTARY REQUIREMENTS
Single Proprietorship
• Certificate of Registration with DTI
• Bio-Data of Borrowers/Proprietors
• Statement of Assets and Liabilities of entities who will sign as JSS (notarized)
• Business Plan (including Financial Projections, Source of Equity, List of Suppliers/Markets or Buyers and Contact Numbers)
Cooperative/Association/Corporation
• Certificate of Registration with CDA/SEC/DOLE-BRW
• Articles of Incorporation/Cooperation and By-Laws
• Information Sheet of the Board of Directors and Officers
• Board Resolution authorizing the cooperative/association/ corporation to borrow and designating at least two (2) officers to negotiate and sign loan documents
• Project Proposal
Other documentary requirements and terms and conditions shall be discussed by the LANDBANK Lending Center depending on the borrower and proposed project.
Customer Care Hotline
(+632) 8 405-7000
PLDT Domestic Toll Free
1-800-10-405-7000
Email Address
customercare@mail.landbank.com
