Financing Programs Loans and Financing Programs for Micro, Small and Medium Enterprises

Quedancor Program for Self Reliant Team

Program Title: Quedancor Program for Self Reliant Team (SRT)
Program Objectives:

• To finance the working capital or production requirements of farmers,fisherfolk and "agripreneurs" participating in the program;
• To create more jobs in the rural areas through the adoption of labor-intensive and market-driven agri-fishery and forestry based
• projects;
• To encourage participation of the private sector, particularly the input suppliers in the agricultural development programs; and,
• To improve access by agri-fishery stakeholders to credit through the SRT financing schemes.

Eligible Borrowers:

• Farmers, fisherfolks, urban and rural workers

Eligibility Requirements:

• Must be 18-64 years old at the time of application;
• Must have sufficient knowledge/experience and/or willing to undergo training on the project;
• Must have attended the required Values Orientation Seminar (VOS) with Quedancor;
• Must be residing in the same community for at least one (1) year or with the same project location;
• Must signify intention to become a member of an SRT cooperative; and
• Must be identified/endorsed by concerned government/nongovernment entity, if applicable.

Loan Purposes:

• For production activities
• For processing/packaging/manufacturing
• Acquisition/Fabrication/Repair of agri-fishery machinery and equipment
• Construction/Upgrading of facilities
• Working Capital/Marketing and trading activities.

Terms/Requirements:

Amount:  Maximum of P50.000.00 per member

Interest Rate:

• Production/Processing, packaging, manufacturing/ Acquisition, fabrication and repair of agri-fishery machinery and equipment/ Construction and upgrading of facilities - 16% per annum
• Working Capital, Marketing/Trading - 2% per month

Maturity / Repayment:

• Production - shall depend on the project's cash flow or payback period
• Processing/Packaging/Manufacturing - maximum of three (3) years but not to exceed 50% of the optimum economic life of the machinery/equipment to be acquired/fabricated/repaired
• Acquisition/Fabrication/Repair of Agri-Fishery Machinery and Equipment - maximum of five (5) years but not to exceed 50% of the optimum economic life of the facility to be acquired/ constructed/upgraded
• Construction/Upgrading of Facilities - maximum of seven (7) years
• Working Capital, Marketing/Trading - maximum of three (3) years

Loans are payable monthly, quarterly or semi-annually or depending on the mode of payment of the fund source as determined by the Quedancor Credit Assessment Group (CAG).

Security:

• Joint and Several Signatures (JSS) of members of the SRT
• Deed of Assignment of Receivables supported by a Marketing Contract/Agreement, if applicable
• A loan guarantee from the participating LCD or buyer-firm/input supplier, if applicable

Documentary Requirements:

• Application for loan;
• Two (2x2) photos
• VOS certificate from Quedancor
• Certification from the concerned government agency/other participating entities that he/she complies with the certain standards in their production systems, if applicable
• Memorandum of Agreement
• Farm Plan and Budget (for production loan)
• Certified copy of latest income and business tax returns
• Tax Clearance from the BIR, if applicable

Contact Details:

Quedan Corporation
Quedancor Center, 34 Panay Avenue, Quezon City
Winnie Sioson,  Annie Yniguez, and Emil Rea
Phone: (02) 373-9711 Fax no: (02) 373-9452
Web: www.quedancor.gov.ph