Sikat Saka Eligible Borrowers Trained on Credit Discipline and Financial Management

 San Mateo, Isabela.  As a result of briefings conducted on the Sikat-Saka Program as an alternative lending scheme for small farmers, the training on credit discipline and financial management was conducted for 23 eligible irrigators’ associations’ farmer-members.  The Sikat Saka Provincial Action Team (PAT) conducted the training last July 4, 2012 at the Agricultural Training Institute-Regional Training Center 02 (ATI-RTC 02), San Mateo, Isabela.  The trainings aimed to enhance the capabilities of farmer-recipients in managing their finances and efficiently use their loans in line with their farm plan and budget thus help farmers prevent operation losses and become more cost-efficient and productive.

The speakers from the Land Bank of the Philippines (LBP) discussed the lending principles and practices, the obligations of lenders and borrowers, financial management and values.  Mr. Paul dela Cruz of Land Bank emphasized the five Cs in order to be credible borrower such as character, capital, capacity, condition and collateral.  He also mentioned the five Ps which are the people, purpose, payment, plan and protection including positive values of the Filipinos, all necessary in the credit discipline.  Ms. Marilyn Cristobal discussed financial management aspect where she emphasized the use of loan efficiently by the farmer-borrowers and the process of availing the ATM.  Part  f the program package is the crop insurance where Mr. Romeo Te discussed the scheme and how to accomplish the application form. CMAlaska