The Land Bank of the Philippines (LANDBANK) launched a new loan offering to assist
enterprises against economic disruptions caused by natural calamities or man-made
conflicts such as the ongoing strife in Europe, civil wars, and disputes among
nations.
The LANDBANK NATION SERVES (National Assistance Towards Initiating
Opportunities to eNtities amidst Social and Economic Reverses which Visibly Entail
Shockwaves to Businesses) Lending Program provides additional working capital for
businesses to strengthen their operations, expand trading facilities, and stockpile
supplies and inventories to mitigate the actual or impending impact posed by such
crises.
“LANDBANK aims to bolster the resiliency of key development industries by
cushioning the negative impact of economic disruptions. Through the NATION
SERVES Lending Program, we will also contribute to preventing price surges on basic
commodities as we continue serving the nation,” said LANDBANK President and CEO
Cecilia C. Borromeo.
The state-run Bank allocated P50 billion for the Lending Program as a proactive
measure to support energy and fuel providers, industry manufacturers of medicines,
metals, electronics, and armaments, as well as ship builders, among others.
Eligible borrowers also include renewable energy developers, agri-businesses, and
aviation hard-wares and machine manufacturers.
Under the Program, customers may loan up to 85% of the actual need with an
interest rate based on applicable Bloomberg Valuation Reference (BVAL) rate at the
time of loan availment, plus spread of not more than 75% of the prescribed spread
based on the borrower’s credit rating.
Interested borrowers may contact the nearest open LANDBANK Lending Center or
Branch nationwide, or call LANDBANK’s customer service hotline at (02) 8-405-7000
or at PLDT Domestic Toll Free 1-800-10-405-7000.
