Go Negosyo founder pushes for greater lending to farmers

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<div><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/1737030127436go negosyo.jpg" style="width:960px" class="fr-fic fr-dib" alt="Go Negosyo founder Joey Concepcion (second from left) witnessed the signing of a Memorandum of Agreement between Land Bank of the Philippines and Yovel East Development Inc., one of the big brothers of the Go Negosyo’s Kapatid Angat Lahat sa Agri Program (KALAP), giving farmers access to capital through the Agrisenso Plus Lending Program. Handout"/>Go Negosyo founder Joey Concepcion (second from left) witnessed the signing of a Memorandum of Agreement between Land Bank of the Philippines and Yovel East Development Inc., one of the big brothers of the Go Negosyo’s Kapatid Angat Lahat sa Agri Program (KALAP), giving farmers access to capital through the Agrisenso Plus Lending Program. Handout</div>MANILA — Financial institutions need to increase their lending to farmers and see that farming can be a profitable business, according to Go Negosyo founder Joey Concepcion.“We have so much land, so much talent, we just have to make it work and eventually change the mindset of many of our bankers that it’s time to lend to farmers,” he said.Concepcion issued the statement during the signing of a memorandum of agreement between the Land Bank of the Philippines and agribusiness firm Yovel East Development Inc on January 14.&quot;It will combine Yovel East’s expertise in farm clustering under its We Will Rice program and LANDBANK’s financial support through its Agrisenso Plus Lending Program. The agreement “streamlines rice production, enhances profitability, and promotes sustainability. It aims to boost agricultural efficiency, economic growth, and food security,” Go Negosyo said in a statement.  “With this agreement, we give the farmers under Yovel East’s management access to money, markets and mentorship, the three essentials of successful entrepreneurship which we emphasize in our work at Go Negosyo,” said Concepcion.Landbank President and CEO Lynette Ortiz and Yovel East President and CEO, James Amparo signed the agreement.Ortiz said that financial assistance “is just one piece of the puzzle in addressing the challenges faced by the agricultural sector.“ The head of the country&#x27;s second-largest bank said Yovel East’s We Will Rice Program has a potential for far-reaching impact by offering farmers access to vital resources, modern technologies, and an end-to-end production process that enhances farmers’ livelihoods and competitiveness.Yovel East now has thousands of farmers in its program after only five years of operation, Go Negosyo said.Amparo said one of their goals in corporative farming is to reduce uncertainty for farming as a business, which makes banks more reluctant to lend to farmers. “Uncertainties in weather, uncertainties in water, uncertainties of where they can get financing for their fertilizers, machineries, and the sad part even the uncertainties of where to sell their produce when they harvest,” he said. With corporative farming, banks can be assured of sustainability, predictability, and a dependable business model, he said.“The idea of corporative farming needs the support of institutions like LANDBANK for them to scale up and continue what they do,” said Concepcion.

Financial institutions need to increase their lending to farmers and see that farming can be a profitable business, according to Go Negosyo founder Joey Concepcion.

Financial institutions need to increase their lending to farmers and see that farming can be a profitable business, according to Go Negosyo founder Joey Concepcion.

Go Negosyo founder pushes for greater lending to farmers | ABS-CBN

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Go Negosyo founder pushes for greater lending to farmers

Go Negosyo founder pushes for greater lending to farmers

ABS-CBN News

Published Jan 16, 2025 08:51 PM PHT

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