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PIA Press Release
2006/10/06

Quedancor promotes young farmers' entrepreneur program

By Rebecca G. Cadavos

MAASIN CITY (6 October) -- Relative to Republic Act 7393 which mandated Quedan & Rural Credit Guarantee (Quedancor) to modernize agricultural sector, through an institutionalized and comprehensive financing and guarantee support system. Don Mark De los Reyes, Quedancor representative introduced the Young Farmers' Entrepreneur program during the Provincial Agricultural & fisheries council (PAFC) held this morning, October 5 at the R.K. Function House here.

De los Reyes disclosed that Quedancor is committed to help farmers through financial assistance particularly the young farmers who are willing to indulge in agr-business. They will assist eligible farmers through loan payable within six months to 5 years.

There were two components named by Delos Reyes, namely the single proprietorship and the self-reliant team (STR). STR should have a team leader who will represent their group to transact any business with Quedancor, he said.

A single proprietorship applicant need not require to have a collateral, only the SRT need security arrangements. A young farmer entrepreneur is considered eligible if he is 18 to 25 years old. It is also defined that the applicant is either a graduate or non-graduate of any agri-fishery courses and should not be employed in any government-run institution. The young client must also be identified and endorsed by their Municipal Agricultural and Fisheries Council (MAFC) then by the Provincial AFC.

In addition to the qualifications of any applicant in order to avail of the program, he should have a certificate certifying that he had undergone any agri-fishery training.

Delos Reyes revealed that Quedancor will release 60% of the proposed project but will not exceed to Php200,000. As of this writing, their office are still waiting for the release of the funds from the Department of Agriculture (DA) through the Agricultural Competitiveness Enhancement Fund ()ACEF.

It was learned that the mentioned program will accelerate the lives of the farmers, particularly the small farmers and fisherfolk, small and medium enterprises and micro-enterprises, agri-business and other agri-related projects. It is one of the key components of the Government's national agenda for poverty alleviation and national development. (PIA-Maasin) [top]

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