Rollout of FICOBank’s Newest Loan Product for Farmers and Fishermen

To keep pace with the demand of the time, particularly the pressing need of its clients who belong to the agriculture sector, FICOBank has finally introduced its newest agricultural loan product called Todo Ani Loan Plus in June 2012.

The Todo Ani Loan Plus is a complement of Todo Ani Loan, as it satisfies the restrictions on eligibility requirements that the latter imposes to its target market. Primarily, this agricultural loan facility is designed to augment the working capital of the existing big-time farmers and fishermen by providing loans for their agri-fishery projects/activities, specifically for food and industrial crop production. Unlike Todo Ani Loan, the Todo Ani Loan Plus targets the big-timers in the farming and fishing communities who could not qualify to avail of any other regular agricultural loan products of FICOBank because of collateral constraints.

The creation of the Todo Ani Loan Plus is deemed to be the proactive response of the Bank—and its launching pad as well—for the national call and thrust to uplift the plight of the of the farming/fishing communities. This financial product aims to help the agri-undertakings of its prospective clients reach their full growth potentials, as they can now avail of a loan that will give them the opportunity for greater production and bigger income.

This loan product has the following salient features: (i) it can be accessed by big-time farmers and fishermen; (ii) the loan amount is up to Php1,000,000.00; (iii) the loan term is up to one year; (iv) repayment may either be in installment or lump sum; and (v) the interest on loan is comparatively low.

The new Todo Ani Loan Plus goes with the line, “Plus sa laki ang ani at kita!”