LANDBANK approves loans worth over P8B for hog repopulation as of end-June

LAND BANK of the Philippines (LANDBANK) said it approved loans for hog repopulation worth P8.05 billion in the six months to June.

In a statement on Sunday, the bank said 36 borrowers took out loans from its Special Window and Interim Support to Nurture Hog Enterprises (SWINE) Lending Program.

The projects to be financed include the purchase of hogs and feed, construction and expansion of piggeries. Some of the loans were also for working capital.

The bank said commercial hog farmers registered as cooperatives or farmer’s associations, small and medium enterprises, and large enterprises or corporations may borrow up to 80% of the project cost.

Working capital loans are payable in a year, while permanent working capital financing may be repaid over five years, the bank said.

“Loans for fixed assets and construction of facilities are payable based on project cash flow (over) its economic useful life,” it added.

The SWINE Lending Program is a partnership with the Department of Agriculture.

LANDBANK said AJ Piggery Farm, which is among the beneficiaries of the program, was able to borrow P24 million for its startup commercial farm.

The loan covers construction of three piggery buildings, support facilities, a manure lagoon, wastewater treatment facilities, and the acquisition of young female hogs for breeding. — Sheldeen Joy Talavera