LandBank Offers Enhanced Loans And Cash Support For Emergencies

The Land Bank of the Philippines (LandBank) has expanded its loan packages for businesses and individuals affected by calamities and natural disasters, aiming to facilitate and expedite their rebuilding efforts.

Eligible borrowers can apply for the eSL online via the LandBank website, iAccess, or Mobile Banking App, with loan proceeds directly credited to their accounts. I Photo: Land Bank of the Philippines Facebook

Lynette Ortiz, President and Chief Executive Officer of LandBank, stated, “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.”

LandBank’s Community Assistance and Reintegration Support Plus (CARES+) lending program allows affected farmers, fishers, cooperatives, micro, small, and medium enterprises (MSMEs), corporations, and electric distribution utilities to access loans for financing recovery and restoring regular business operations, Ortiz highlighted.

The bank stated that eligible borrowers could use the funds for working capital, capital expenditures, and the construction, repair, or acquisition of disaster-damaged equipment, facilities, and structures.

Additionally, electric distribution utilities can use the loan as short-term working capital for the incremental increase in generation and distribution expenses.

For employees of government agencies and companies with LandBank payrolls, the bank is also offering an Electronic Salary Loan (eSL), which provides convenient and quick access to funds.

Ortiz added that eligible borrowers can apply for the eSL online via the LandBank website, iAccess, or Mobile Banking App, with loan proceeds directly credited to their accounts. Existing eSL borrowers who have maintained good payment standing for at least three months can also quickly renew their loans.

LandBank is also introducing its new EasyCash for Emergencies feature for credit cardholders, which allows clients to convert their available credit limits into emergency cash with flexible repayment options of up to 36 months.

The bank explained that eligible cardholders will receive an SMS and email from LandBank confirming their eligibility for the credit limit conversion, and the funds will be credited to their deposit account. Customers may also call the bank’s customer care to request the cash conversion.