Agricultural credit market for rice farmers in Victoria, Oriental Mindoro [Philippines]
1988
Ordana, A.M.
The type of credit served by agricultural lenders was short term credit at varying interest rates and amount of loan depending on credit duration, relationship with lenders, credit worthiness of borrowers and volume of palay marketed. Informal lenders were creative in adapting/implementing their creative service and techniques suited to rice farmer's needs. Operations were improved to spread or expand business to attract more clients relative to their business motives. Moreover, informal lenders play a complementary role to formal lender by serving credit needs of rice farmers due to absence of collateral. Factors affecting agricultural credit differed from one lender to another in terms of policy implementation, lending and collection procedures. Operations and attitudes of informal lenders are influenced by a number of policies, procedures and measures but not as systematic, well-defined and organized as that of the formal lender. Formal borrowers are considered better-off than informal ones. Attitudes toward agricultural credit is favorable among respondents because it is helpful to rice farmers and profitable venture to lenders. There was no significant difference on the characteristics of agricultural lenders in terms of policies, procedures, capabilities and attitudes toward agricultural credit. There was no significant difference between the formal and informal borrowers on factors affecting agricultural credit. There were no significant differences on the characteristics of formal and informal borrowers in terms of social profile, economic profile and attitudes toward agricultural credit.
显示更多 [+] 显示较少 [-]