Obtain financing through your stored onions. Your warehouse stock receipt (WSR) or deposit slip (DS) issued by an accredited warehouse operator can be used as a security for FICOBank’s Bridge Financing. This financing facility of the Bank is designed to provide short-term funding to onion farmers and traders with WSR/DS. It enables you to “bridge” the gap between the time you need funds and the time your stored onions are sold at a higher price.

This facility has the following salient features:

• Can be accessed by onion farmers/traders;

• Loan amount is up to 60% of the prevailing farm-gate price of the stored onions, but not to exceed Php1,000,000.00 for the farmers or Php8,000,000.00 for the traders;

• Term of loan is 1-5 month(s) for white onions or 1-6 month(s) for red onions;

• Interest rate is comparatively low; and

• Financing is secured by WSR/DS issued by an accredited cold storage facility.

Apply now!