People living in a farming community in Misamis Occidental will now have a more secure way of boosting their farm produce and other livelihoods, thanks to the Land Bank of the Philippines (LANDBANK)’s new program that offers affordable loan offerings.
Just recently, the state-run bank rolled out its “Bilis Ipon: Digital Financial Inclusion Caravan” in the municipality of Plaridel, Misamis Occidental, to bring essential financial services and information closer to MSMEs as well as small farmers and fisherfolks in the area.
Executives of LANDBANK strike a pose during the roll-out of its “Bilis Ipon: Digital Financial Inclusion Caravan” in the municipality of Plaridel, Misamis Occidental, to bring essential financial services and information closer to small farmers and fisherfolks in the area.
The Caravan is part of the bank’s financial inclusion campaign designed to promote the habit of saving among Filipinos nationwide, powered by LANDBANK’s digital products, as well as help boost livelihoods through affordable loan offerings.
It focuses on micro, small, and medium-sized enterprises as well as local farmers and fisherfolks who will be introduced to the new LANDBANK AGRISENSO Lending Program, which provides affordable credit assistance and support services.
Engaging farmers and fisherfolks in value-chain financing
The LANDBANK AGRISENSO Lending Program has an initial fund of P10 billion, which aims to encourage MSMEs, particularly small farmers and fisherfolks, to engage in value-chain financing and farm clustering to increase their production of rice, corn and other high-value crops.
Interested applicants can apply for the AGRISENSO Lending Program at the LANDBANK Plaridel Agri-Hub located in Barangay Panalsalan, which is the very first commercial bank in the municipality.
The Digital Financial Inclusion Caravan will also feature a live cash-out demonstration to make banking and saving more convenient with the help of LANDBANKasama Partners in the province, namely the Paglaum Multi-Purpose Cooperative and the Lorenzo Tan Multi-Purpose Cooperative.
Under the Bank’s LANDBANKasama Program, cooperatives and micro, small, and medium enterprises (MSMEs) are tapped as LANDBANKasama Partners to extend essential banking services to unbanked and underserved areas on behalf of the Bank.
The caravan will also help participants without bank accounts conveniently open their own LANDBANK PISO Plus basic deposit account on the spot using a smartphone through the LANDBANK Mobile Banking App (MBA), among the bank’s latest digital offerings.
No initial deposit or maintaining balance required
Opening a LANDBANK PISO Plus account requires no initial deposit or maintaining balance and provides instant access to LANDBANK’s full range of digital banking services, including fund transfers, bill payments, e-commerce transactions, and cardless withdrawals.
“The LANDBANK Digital Financial Inclusion Caravan represents our steadfast commitment to fostering financial inclusion and empowering the underserved,” said Lynette V. Ortiz, President and CEO of LANDBANK.
“We will continue to leverage meaningful partnerships and digital technology to reach and serve even the farthest corners of the country,” she further stated.
LANDBANK’s Executive Vice Presidents, Liduvino S. Geron of the Branch Banking Sector and Ma. Celeste A. Burgos of the National Lending Sector, will lead the event proceedings alongside invited local government partners.
The latest leg of the LANDBANK “Bilis Ipon: Digital Financial Inclusion Caranvan” in Misamis Occidental is in line with the Bank’s intensified efforts towards expanding financial inclusion and inclusive development in the country.