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Aquaculture Value Chain Financing Program (ACPC Funded)

Program Type:

Credit Program

Status: Published

Created: Not Indicated

Updated: Not Indicated

Implementing Unit: DBP
Description
The DBP Aquaculture Value Chain Financing Program (Agricultural Credit Policy Council-Funded Program) is a credit assistance program that provides comprehensive support to the aquaculture sector by improving credit access at every stage in the value chain (i.e. input supply, production, processing, and marketing) to increase the competitiveness of the entire industry.
Geographic Coverage
No Geographic Coverage Specified
Assistance Type
Eligible Borrowers Micro and Small Enterprises, Cooperatives including start-up fish farm operators Eligibility Criteria Duly registered with the Securities and Exchange Commission (SEC), Department of Trade and Industry (DTI), and Cooperative Development Authority (CDA) With approved contract agreement with the DBP-Partner Integrator/reputable institutional buyer/ processing/canning companies No adverse findings With profitable operations and sound financial condition (based on existing DBP policies and guidelines) Loan Purpose To finance the following: Working capital Pond Development and/or improvement, including fixed assets acquisition and installation/establishment of other support facilities Production, processing and marketing of seaweeds and carrageenan Loan Amount Up to 90% of the Total Project Cost (TPC) with a minimum loanable amount of Php5-M but not to exceed Php15-M Credit Facility Term loan/Credit Line Tenor For Term Loan: Maximum of 10 years payable monthly, quarterly or annually, depending on the projected cash flow For Credit Line: : Within 360 days, payable monthly, quarterly, or semi-annually depending on the cash conversion cycle Grace Period For Term Loan, Maximum of two (2) years Service Fee Service fee of 3.5% per annum, fixed for the entire term of the loan Loan Security/Collateral Assignment of proceeds from insurance/ surety/guarantee coverage acceptable to DBP Assignment of 100% receivables arising from the contract/agreement with the anchor firm via execution of Security Agreement for Intangible Assets Mode of Release Staggered/Lump Sum
Document Requirements
Documentary Requirements
Basic Requirements:

DBP Loan Application Form and Data Privacy Consent Form
Photocopy of 2 valid/unexpired government issued IDs of borrower/s
Business Permit
Income Tax Returns for the past three years (if applicable)
Financial Statements for the last three years (if applicable)
Statement of Assets, Liabilities and Net worth (SALN) of Principal Borrower/s (if applicable)
Bank Statement for the last 3 months (if applicable)
Signed Agreement with a DBP Partner Integrator/Anchor Firm (if applicable)
Environmental Compliance Certificate (ECC) issued by the Department of Environment and Natural Resources (if applicable)

Specific Requirements:
For Sole Proprietorship:
Certified True Copy of DTI Registration

For Partnerships:

Certified True Copy of SEC Registration
Latest General Information Sheet and/or additional documents to fully establish beneficial owners of the legal entity
Partnership Resolution authorizing the business relationship and the signatory to sign on behalf of the entity

For Corporations:

Certified True Copy of SEC Certificate of Registration
Certified True Copy of Articles of Incorporation and By-Laws
Latest General Information Sheet and/or additional documents to fully establish beneficial owners of the legal entity
Board Resolution duly certified by the Corporate Secretary or equivalent document (e.g. Secretary’s Certificate), authorizing the business relationship and the signatory to sign on behalf of the entity

For Cooperatives:

Certified True Copy of CDA Certificate of Registration
Certified True Copy of Articles of Cooperation and By-Laws
Certificate of Compliance issued by CDA (if applicable)
Bio-data of incumbent officers and Board of Directors with photocopy of valid government-issued ID
Board Resolution duly certified by the Corporate Secretary or equivalent document (e.g. Secretary’s Certificate), authorizing the business relationship and the signatory to sign on behalf of the entity