Onion farmers get credit line via Jollibee, BanKo partnership

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MANILA, Philippines — The Jollibee Group Foundation (JGF) has partnered with the microfinance arm of the Bank of the Philippine Islands (BPI) to provide onion farmers access to financing that may help them improve their productivity and boost their income.

BPI Direct BanKo Inc. (BanKo) and JGF, the social development arm of the Jollibee Group, recently announced that Filipino onion farmers may access financing under the latter’s farmer entrepreneurship program or FEP.

Onion farmers who are members of a cooperative or association that has been supplying the Jollibee Group for at least two consecutive years are eligible to tap the credit program. The eligible borrowers must be Filipino farmers aged 23 to 67 upon loan maturity, own a mobile phone and have no adverse credit bureau record, according to Jollibee Group.

The farmers may use the financing to purchase seeds, fertilizers, equipment and other essential farm inputs, as well as support land preparation and harvesting activities.

The credit access would help farmers expand their production, meet market standards and access stable markets such as the Jollibee Group.

“Through this initiative with Jollibee Group Foundation, we continue to strengthen our commitment to supporting Filipino farmers by providing accessible and sustainable financing solutions tailored to their needs,” said BanKo president Rod Mabiasen Jr.

“We believe that empowering farmers with timely access to capital not only helps improve productivity and livelihoods, but also contributes to building a more resilient agricultural sector and stronger local food security,” he added.

To date, the collaboration between JGF and BanKo has already supported over 200 farmers, with aggregate loan releases amounting to P24.8 million across key agricultural areas such as San Jose, Nueva Ecija, Tagudin, Ilocos Sur and Candon, Ilocos Sur.

The financing program, Jollibee Group said, offers “competitive” interest rates, accessible application requirements, and loan terms aligned with the crop production cycle. The group added that the system allows onion farmers to harvest and sell their produce before their loans mature.

The credit initiative addresses the persistent credit gap faced by many Filipino farmers, particularly those who remain unbanked or underfinanced.

The group added that limited access to formal finance hampers farmers from investing in quality inputs and modern farming technologies to enhance their production with many of them being forced to rely on informal lenders with high interest rates.

“At Jollibee Group Foundation, we are committed to helping smallholder farmers become more productive and financially sustainable by connecting them to institutional markets and essential support services,” JGF president Gisela Tiongson said.