One of the priority thrust programs of the City Government of Batangas is to provide livelihood and enhancement of entrepreneurial skills to individuals and to Micro, Small and Medium Enterprises (MSMEs) in the community.
The Office of the City Veterinary & Agricultural Services (OCVAS), one of the implementing arms of this program, is tasked to establish a sustainable business activity and opportunities to the said beneficiaries by extending technical assistance such as trainings, institution building (i.e. cooperative and farmers and RIC associations) and others
However, to pursue the growth and development of the MSMEs, the City Government also realized the need to give financial assistance. Hence, Financial Support to Entrepreneurs Undertaking Necessary to Livelihood/Project Development and Sustainability (FUNDS) Program was created.
- To provide viable and responsive economic enterprise, so as to generate employment in the community;
- To promote discipline, self-reliance and responsibility among members of the organizations and the entrepreneurs.
- Registered Cooperative & Associations in Batangas City with business activity for two (2) years.
- Micro, Small and Medium Entrepreneurs - Individuals (i.e. marginalized farmers, fishermen, women and out-of-school youth) who are residents of Batangas City and willing to engaged in any livelihood activity or with start-up business that need additional capital
TYPES OF LOAN
- AGRICULTURAL AND AQUAMARINE LOAN - intended to finance the livestock, poultry, fishery and crops production activity of the cooperative.
- MICROFINANCE LOAN - extended to registered association for relending to its members.
- RENEWABLE ENERGY FACILITY LOAN - a non-interest bearing loan extended for livestock raisers through cooperative for the construction of septic tank or biogas digester.
- LIVELIHOOD DEVELOPMENT ASSISTANCE LOAN - a non-interest bearing loan for Micro, Small and Medium Entrepreneurs residing in Batangas City (under Beneficiaries 1)
TERM OF LOAN Loan maturity will be based on the type of loan.
1. Agricultural and Aqua-Marine Loan - minimum of two (2) years and maximum of seven (7) years, payable semi-annually based on the approved project proposal; 2. Microfinance Loan - minimum of two (2) years and maximum of three (3) years payable semi-annually; 3. Renewable Energy Facility Loan - payable semi-annually for three (3) years; 4. Livelihood Development Assistance Loan - payable within a year inclusive of a three-month grace period based on the proposal; payable monthly.
Loanable Amount and Rate of Interest A. Registered Cooperative and Association
- Amount of loan will depend on the submitted project proposal and the financial capability of the organization
- Interest rate - 4% per annum
- Loan Ceilng - Php 1 Million
- Amount of loan will depend on the approved business plan
- Loan Ceiling - Php 20,000.00
REQUIREMENTS A. REGISTERED COOPERATIVE AND ASSOCIATIONS
- CDA/SEC Registration
- Board Resolution stating the request to borrow and the name of authorized person who will sign the documents;
- Batangas City Cooperative Development Council Accreditation Certificate;
- Project Proposal or Farm Plan and Loan Budget for Vegetable & Yellow corn Production;
- Audited Financial Statements for the last two (2) years, (optionals for Vegetable and Yellow Corn Production Loan)
- Application Form with 2×2 recent ID picture;
- Should undergo any livelihood seminar conducted by OCVAS and possess skills and knowledge required on the project to be undertaken or on the on-going business (optional);
- Should attend a two (2) - day Entrepreneurship Seminar on OCVAS;
- Business Plan
- Passed the Background Investigation (BI) or Credit Investigation (CI) conducted by OCVAS personnel;
- No pending loan in any other institutions;
- Picture of present business (for additional capital)
- Location Map of proposed business
- Barangay Permit and endorsement of the Barangay Captain (if you passed the BI/CI);