If you have a viable idea that you can pursue, the Department of Agriculture will give you a grant of P500,000. Yes, that’s free! This is just one of three new financing programs that the DA is launching by the end of January 2020 to encourage people to put up agricultural enterprises.

This was revealed by Agriculture Secretary William Dar in an exclusive interview with Manila Bulletin editors and reporters on January 17, 2020 at the newspaper’s headquarters.

Any determined aspiring farmer is eligible for the grant. No educational qualification is required. What is important is he has the passion and focus to pursue his idea. He will be coached by a mentor to make sure he will succeed.

The second funding scheme is called the Youth Entrepreneurship Loan Program for 18 to 30 years old. Participants can borrow P500,000 with zero interest and no collateral, payable in five years. Participants should be serious in pursuing their own projects. Mentors will coach them so they will be able to achieve their targets.

The third program is Micro and Small Entrepreneurship Loan Program for those who already have their existing agri projects. Under the program, the participant can borrow from P300,000 to as much as P15 million, depending on the requirements of the project. This will be interest-free and no collateral is needed.

Dar said that those who want to avail themselves of the financing programs will undergo a strict selection process to make sure the the beneficiaries will not falter. The programs are implemented nationwide. The implementing rules are now being finalized for implementation by January 28, 2020.