MAGALANG, Pampanga – Interested agripreneurs may now start or scale up their agri-fisheries business enterprises through the newly launched Kapital Access for Young Agripreneurs (KAYA) and AgriNegosyo loan programs under the Department of Agriculture – Agricultural Credit Policy Council (DA-ACPC).
This was recently announced by DA Secretary William Dar during the 5th Founding Anniversary of Pampanga State Agricultural University (PSAU) here.
He narrated the two programs came to be with the help of ACPC Executive Director Jocelyn Alma Badiola because, in his own words, “Baliw na baliw ako para sa mga millennials na bumalik na sa agrikultura at sa pagne-negosyo.”
Dar said within three weeks after their conception, the two loan programs were approved with Php 1 billion allocation each.
Records from higher education institutions (HEIs) show 603, 000 students graduated with degrees in agriculture, forestry, fisheries, and veterinary medicine from 2014 to 2019, excluding students who took up short courses on the said fields.
With this, ACPC launched the KAYA loan program to give young agripreneurs, aged 18 to 30, the avenue to fund agri-based projects by offering them loans as working capital and fixed asset acquisition requirements for their start-up or existing agri-businesses, ACPC Communications and Public Affairs Officer Emmalyn Guinto said.
The KAYA loan program may lend up to Php 500, 000 per borrower. The loan is payable for five years based on projected cash flow, with zero interest rate.
ACPC also coordinates with state universities and colleges, government agencies, and non-government business service providers to mentor and assist young entrepreneurs in handling their businesses.
The AgriNegosyo loan program, on the other hand, is open for sole proprietors, partnerships, corporations, associations, and cooperatives who are planning to start or expand their business ventures.
Agripreneurs with micro or small business enterprises may avail the loan up to Php 15 million as working capital.
Dar assured the department will support all agripreneurs with innovative ideas who wish to avail the loans by submitting a business plan, government-issued ID, and loan application form to a partner lending conduit.
The ACPC extends loan to farmers and fisherfolk through government and non-government financial institutions which act as lending conduits to manage the credit program, disburse credit funds to eligible borrowers, and to monitor and collect loans from borrowers.