Philippines Today via SEARCA BIC

To promote nationwide adoption pf the hybrid-corn production technology, Quedan and Rural Credit Guarantee Corp. (Quedancor) designed a program which provides better credit access to hybrid-corn seed growers and farmers and help them realize increased corn production and income.

The Quedancor Hybrid Corn Seed Production (HCSP) program is an innovative scheme for funding the technology of cultivating hybrid-corn seeds in the open fields. It is implemented by Quedancor through the Special Window Mode facility using the Self-Reliant Team Model.

According to Quedancor president and CEO Nelson Buenaflor, the HCSP Program carries Quedancor's flexible loan term and low-interest rates which encourage clients to pay on time. With the P60, 000 maximum loanable amount per borrower over six-month maximum term of payment, 14-percent interest rates per annum is given subject to one percent rebate in case of timely payment. The rebate will be funded on the regular amortization due or on due date upon repayment on time.