Agricultural Loan

ARB Loan

This type of loan product is ideally designed and created for farmers who are engaged in palay, corn, root crops and other related agricultural production. A requisite of at least 10% of the bank’s total loan portfolio is required for this loan product in accordance with the Magna Carta Law. In the recent years, production cost per hectare are abruptly increasing due also to increase in prices of farm inputs such as chemicals and fertilizers, labor cost, cultivation costs and others. If a certain farmer doesn’t have its start-up capitalization before the cultivation of its farmland, financial concerns will arise. In this connection, ARB credit facility of RB Dumangas is the answer.

Other Agricultural Loan (OAL)

This another type of agricultural loan product is ideally designed and created by RB Dumangas, Inc. particularly to Fishery Cultured Projects like bangus, tilapia, catfish production and other related projects such as livestock raising (piggery, chicken layers, 45 days growers, and the like). This is also a mandatory requirement of the Magna Carta Law which states at least 15% of the bank’s total portfolio should be allocated to this loan product. Municipality of Dumangas is a clearly developing town up to these days, most residents are having their own different source of livelihood. One of the oldest and basic sources of income of “Dumangasanons” are fish and livestock production wherein majority of Dumangas area are fishpond lots and even in the house residence itself of each “Dumangasons”, chicken, piggery or hog raisings are almost present. With this, financial assistance of every household is in demand in the area, that’s why RB Dumangas specifically designed this type of credit facility. 

General Qualifications: Applicable to all types of loan products

  1. Borrower must be legal age and with mental capacity to enter into contracts, in case of minors, borrowers must have a judicial guardian.
  2. Filipino Citizen
  3. In good health condition
  4. With stable source of income and cash flows
  5. With contact number/s (landline or cell phone)
  6. With good moral character
  7. 2 pcs 2x2 ID picture
  8. 2 pcs. photo bearing valid ID with signature
  9. Must be at least 2 years residency in the present address and preferably with own house. If renting, co-borrower/co-maker must have his/her own house and income
Additional Requirements 
  • Current Land Tax Receipt, Tax Declaration, Tax Clearance, Vicinity Map, Land Title( for with collateral only)
  • Co-maker for those aged at 60 up and for non-collateralized ARB Loan regardless of age
  • Cash Flow Statement or Statement of Assets & Liabilities Net worth
Terms
  • 3 - 9 months / depending upon on the cropping or harvest as established (for agricultural crops with production time below 1 year such as palay, vegetable, sugarcane and corn production)
  • 6 – 120 months / depending on the purpose of loan project for F/D (such as Bangus, Tilapia, and Catfish production)
Interest Rate
  • 22% p.a. or 1.83%/month (including service fee charge) - if with collateral
  • 27% p.a. or 2.25%/month (including service fee charge) - if without collateral
Loanable Amount
  • Up to 70% of the appraised value of the real estate security (if with collateral)
  • Up to 30,000 per hectare ( if without collateral – ARB Loan)
Security
  • REMS, REMA
  • CROP INSURANCE
Mode of Payment
  • Monthly amortization, lump-sum
  • Quarterly, Semi - Annual