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Cabadbaran City extends ‘zero interest’ loan to farmers’ group – Mayor Amante

Cabadbaran City Mayor Judy C. Amante has handed over a check worth P500,000 to the group of irrigators and farmers in the city to help boost their palay production and trading.

The recipients of the “zero interest” loan assistance are the members of the Federation of Cabadbaran Irrigators and Farmers Association.

“This is the city’s way of discouraging local farmers from falling as helpless prey to loan shark financiers who take advantage of their need for capital,” Amante said.

She said the loan will be of “zero interest” provided that the association will return the amount over a prescribed period of time as indicated in the agreement.

The City Agriculture Office through its head facilitated for the release of the fund to the beneficiary and will also regularly monitor the group’s operation to include the provision of other forms of support to ensure the success of the said program.

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