TO IMPROVE the production of small farmers and fisherfolk, the Department of Agriculture (DA) has introduced the Production Loan Easy Access program.

This is seen as another way to increase the output of the agricultural sector to the country’s gross domestic product (GDP).

Gerry Avila, chief of the DA Agri-Business Marketing Assistance Division, said small farmers and fisherfolk can borrow money from P50,000 to P150,000 without collateral and at an interest rate of six percent per annum so they can have capital.

Avila said that because they cannot easily identify individual farmers, they have lending conduits like non-government organizations or cooperatives where the funds will be released.

Avila said they are inviting organizations, cooperatives and local government units to brief the sectors about this loan facility.

“Aside from production, we also have working capital on easy access where an association or cooperative can borrow up to P1 million. We also have farm and machinery equipment loan easy access,” Avila said.

He said they also have a survival and recovery program for poor farmers and fisherfolk.

“This loan system is already simplified where the conduits will only sign three documents. They will register for the program and the farmers will automatically avail themselves of the insurance benefits,” Avila said. (EOB)