DA launched first digitalized financing program in-partnership with PayMaya

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The Department of Agriculture, on behalf of the Agricultural Credit Policy Council, has announced its newest loan program called Kapital Access for Young Agripreneurs (KAYA), which was launched on January 24, 2020, at Pampanga State Agricultural University (PSAU).

This program aims to provide financing for the capital needs of proposed projects by young entrepreneurs and agri-fisheries graduates. It specifically targets millennials and encourages their engagement in agricultural business, particularly young entrepreneurs, agriculturists, and agri-fisheries graduates.

Despite the COVID-19 pandemic, the Department of Agriculture - ACPC officially launched its first digitalized financing program in collaboration with PayMaya Philippines, Inc. on July 6, 2020.

With the KAYA CASH CARD powered by PayMaya, approved loan capitals will be swiftly credited to the proponents' accounts.

Borrowers can access loans of up to 500,000 pesos with zero-interest and no collateral, which can be repaid over a period of 5 years. Proponents must be between 18 to 30 years old and have completed formal or non-formal schooling.

The Department of Agriculture continues to address gaps and strive to uplift the Philippine agriculture sector amidst the challenges posed by the COVID-19 pandemic.

sources:
http://acpc.gov.ph/da-acpc-launch-kapital-access-for-young-agripreneurs-kaya-and-agri-negosyo-loan-programs/
https://www.da.gov.ph/young-agripreneurs-get-loans-from-das-kaya-via-cash-card/

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