To address urgent financial needs during emergencies, Land Bank of the Philippines
(LANDBANK) has expanded its available loan packages for businesses and individuals
affected by calamities and natural disasters to help facilitate and fast-track
rebuilding efforts.
Under the enhanced LANDBANK CARES+ (Community Assistance and REintegration
Support Plus) Lending Program, affected farmers and fishers, cooperatives, micro,
small and medium enterprises (MSMEs), corporations, and electric distribution
utilities may access loans to finance their recovery and restore regular business
operations.
Eligible borrowers may use the funds for working capital, capital expenditures, and
the construction, repair or acquisition of disaster-damaged equipment, facilities and
structures. Electric distribution utilities can also use the loan as short-term working
capital for the incremental increase in generation and distribution expenses.
“We want to boost the ability of our clients and partners to recover quickly from
calamities and disasters. We have expanded our accessible financial support
interventions to help build resilience and expedite response and rehabilitation
efforts,” said LANDBANK President and CEO Lynette V. Ortiz.
For employees of government agencies and companies with LANDBANK payrolls, the
state-run Bank is also offering Electronic Salary Loan (eSL) that provides convenient
and quick access to funds.
Eligible borrowers can apply for the eSL online via the LANDBANK website, iAccess,
or Mobile Banking App (MBA), with loan proceeds directly credited to their accounts.
Existing eSL borrowers who have maintained good payment standing for at least
three months can also quickly renew their loans.
The Bank will also soon introduce its new “EasyCash for Emergencies” feature for
LANDBANK credit cardholders, which allows clients to convert their available credit
limits into emergency cash with flexible repayment options of up to 36 months.
Eligible cardholders will receive an SMS and email from LANDBANK confirming their
eligibility for the credit limit conversion, and the funds will be credited to their
LANDBANK deposit account. Customers may also call the Bank’s Customer Care to
request for the cash conversion.
ABOUT LANDBANK
LANDBANK is the largest development financial institution in the Philippines
promoting financial inclusion, digital transformation, and sustainable national
development. Present in all 82 provinces in the country, the Bank is committed to
provide accessible and responsive financial solutions to empower Filipinos from
countryside to countrywide.
