For over three decades, Eric A. Janolino has committed his life to cultivating palay, corn, and a variety of vegetables in the secluded sitio of Tingkulan in Barangay Bagocboc. Lacking formal education, agriculture was the sole method Eric knew to sustain his growing family. Nevertheless, even after many years of relentless toil, life remained an ongoing challenge.
To finance each planting season, Eric frequently turned to informal lenders who imposed exorbitant interest rates, often resulting in negligible profit following the harvest. This scenario rendered it nearly impossible for him to enhance his farming techniques or invest in crucial resources necessary to sustain his livelihood.
Compounding his difficulties, Eric resided in a remote community with limited access to government services. The barangay could only be reached via motorcycle, necessitating a 30-minute journey along bumpy, unpaved roads and crossing multiple rivers from the main town. This made the transportation of crops to the market both challenging and expensive, further eroding his already sparse earnings.
In pursuit of improved income, Eric sought his fortune in Manila, taking jobs as an electrician and security guard. However, he felt out of place in the vibrant city, and his heart longed for the fields he had always known as home. Returning to agriculture, though, brought back the same enduring challenges — high-interest loans and scarce resources prevented him from adequately providing for his wife and three children.
A fresh start
Hope arrived in 2023 when Eric discovered the financial support available for small farmers like himself, facilitated by LANDBANK in collaboration with the Department of Agriculture (DA). Through the Agricultural Competitiveness Enhancement Fund (ACEF) Lending Program, he obtained a P100,000 loan at a modest annual interest rate of 2%, amounting to just about P2,000 for the year.
Eric received guidance from LANDBANK and DA at every phase of the loan application process — an achievement he previously believed was beyond his reach due to his limited literacy skills.
“Before, everyone here had their own tricks to gather funds for farming. But when LANDBANK arrived, they explained how we could access affordable loans through the ACEF program. We no longer struggled with enormous interest payments like the 5-6,” Eric recounted.
With the financial backing of LANDBANK, Eric ventured into tilapia farming and spent on constructing three fishponds, with guidance from the Bureau of Fisheries and Aquatic Resources (BFAR) Region 10. He participated in a BFAR training on tilapia production to enhance his knowledge and skills for maximizing his new endeavor.
A wave of progress
The effect of tilapia farming on Eric’s life was significant. His previously meager earnings morphed into a steady and dependable income. He reinvested his gains to purchase a carabao and a horse to assist with transporting goods to market, raised pigs for supplemental income, and even renovated their residence. Most importantly, Eric was able to send his children to school — something he had once deemed unattainable.
“I am extremely grateful to LANDBANK for not hesitating to assist those of us in poverty. Now, we have draft animals to transport our products and plow the fields, so LANDBANK has truly made a significant impact on my family. Regardless of one’s circumstances or needs, they are there to offer help and support,” Eric expressed.
Inspired by the opportunities presented by LANDBANK and the DA, Eric motivated fellow farmers to achieve similar success. Fourteen additional farmers from his barangay took advantage of the affordable financial options available through the ACEF Lending Program and engaged in tilapia farming. Like Eric, they quickly began to witness their livelihoods — and earnings — thrive, allowing their families to meet their needs more effectively and secure a brighter future.
Empowering small farmers and fishers across the nation
LANDBANK serves as the intermediary bank of the DA in executing the ACEF Lending Program, aimed at enhancing the productivity of marginalized agricultural stakeholders by providing accessible credit assistance, among other support measures.
Under this Program, farmers and fishers can borrow up to P1 million, while cooperatives, associations, and micro, small, and medium enterprises (MSEs) may obtain loans of up to P5 million for acquiring agricultural inputs and equipment, as well as setting up or procuring agri-based production and processing tools, machinery, and facilities.
As of December 2024, LANDBANK had disbursed a total of P14 billion in loans under the ACEF Lending Program benefiting 95,301 borrowers nationwide, 98% of whom are small farmers and fishers.
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