Land Bank of the Philippines (LandBank) has expanded its loan offerings to support businesses and individuals affected by natural disasters, aiming to expedite recovery and rebuilding efforts.
The bank’s Community Assistance and Reintegration Support Plus (CARES+) programme now provides loans to farmers, fishers, cooperatives, micro, small and medium enterprises (MSMEs), corporations, and electric distribution utilities.
These loans can be used for working capital, capital expenditures, and the repair or acquisition of disaster-damaged equipment and facilities.
Electric distribution utilities may also utilise the loan as short-term working capital to cover increased generation and distribution costs.
In addition, LandBank is offering an Electronic Salary Loan (eSL) for employees of government agencies and companies with LandBank payrolls.
This loan can be applied for online through the LandBank website, iAccess, or Mobile Banking App, with funds directly credited to the borrower’s account.
Existing eSL borrowers with a good payment record for at least three months can renew their loans quickly.
LandBank is also introducing a new EasyCash for Emergencies feature for credit cardholders, allowing them to convert their available credit limits into emergency cash with repayment options of up to 36 months.
Eligible cardholders will be notified via SMS and email, with funds deposited directly into their accounts.
“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 Lynette Ortiz, President and Chief Executive Officer of LandBank.
