Are you an out of school youth (OSY) wanting to venture in a cattle fattening business but no capital? Worry no more, the Department of Agriculture has loan offer for cattle fattening business enterprise.
Through the Agricultural Credit Policy Council (ACPC) under its credit and financing facility program, all interested out of school youths from 6 priority provinces may now avail an affordable and accessible credit program.

In its program launching held on December 15, 2022 at the Sola Hotel in Laoag City, Ilocos Norte, the program was launched with no less than DA’s Senior Undersecretary Domingo Panganiban in attendance.

Meanwhile, Mr. Noel Clarence Ducusin, Chief Administrator Officer of ACPC explained the mechanics of the program.

According to Mr. Ducusin, all eligible out of school youths could avail of up to Php200,000 to buy 3 cattle fatteners with an interest rate of 4% per annum plus 3% one time service fee payable within 5 years with one-year grace period on principal payment.

To avail of the program, interested applicants must have a good moral character who are willing to borrow and undertake livestock raising business.

Prior to the provision of capital, OSY-borrowers are required to undergo training in cattle raising for him/her to be equipped with technical know-how and competencies in raising cattle. He/she is required to present a training completion certificate that he undergone as part of the loan requirement.

To provide safety nets for the animals being raise, the animals are also provided with full livestock insurance to cover them against diseases and natural calamities through the help of the Philippine Crop Insurance Corporation.

In Ilocos Region, a total of P20 million was allocated out of the P60 million from ACPCs approved GAA budget downloaded to the Rural and Cooperative Banks who were tapped to act as delivery channels of the loans to eligible borrowers.

Once the animals are ready to dispose, the OSY-borrower is likewise provided with market linkages to potential livestock buyers and/or consolidators at proper time and reasonable price.

For those interested OSY to avail of the project, you may visit your nearest Office of Provincial Veterinarian.