Digital Lending System Qorus Banking Innovation Awards 2023

In the Philippines, many small farmers and fishers are un-banked. Traditionally, applying for an agri loan involves the tedious process which will require farmers and fishers leave their farms and present themselves along with their loan documents to the Bank. The DLS allows the small farmers and fishers to apply for a loan without having to go to the Bank physically. As an initial step, they have to go through an internet-based application process via the LANDBANK website. For as long as the information fields are properly filled out and the requirements are complete, the digitally submitted application is automatically forwarded to a LANDBANK Lending Center located near their farm location. Once they received by Lending Center, this will trigger the due diligence process to assess the farmers and fishers eligibility based on the information and requirements provided. Part of the due diligence may include an actual visit to the farm location by a LANDBANK Account Officer. Once the loan is approved, the only time that they will have to go to the bank is to sign the loan/legal documents and to receive the loan proceeds. Thus, they can save more time which can be devoted tending to their livelihood.