Capitol grants livelihood assistance to 13 towns
LINGAYEN—Thirteen associations and two individuals representing 13 towns in the province received livelihood assistance from the provincial government last week.
Governor Amado Espino Jr. handed P100,000 to P150,000 checks to each of the beneficiaries from Urbiztondo, Bayambang, Burgos, Mabini, Alaminos City, San Jacinto, Mapandan, Manaoag, Laoac, Binalonan, Urdaneta City, Pozorrubio, and Natividad.
The assistance, totaling more than P2 million, is under the provincial government’s loan program for start-up small entrepreneurs.
Provincial Population Office officer-in-charge Ellsworth Gonzales said the beneficiaries, who underwent strict screening, had to meet certain requirements, i.e., at least 15 members, a minimum of P30,000 capital outlay and legally registered.
Espino said the program has been successful with a repayment rate of 92% that resulted in profitable operations for majority of the borrowers.
He cited the Women’s Unity for Progress group in Mapandan as an example.
Luzviminda Nuega, the provincial government’s consultant on livelihood programs, said the project educates borrowers learn to be responsible in their repayment obligation while committing to work hard to make their business ventures succeed.
The beneficiaries have ventured in commodity trading, rice trading, farm input, buy and sell and direct selling, vegetable trading, shell crafts and other souvenir items production, and cooperative relending.
At present, more than 100 associations have benefitted from the program since it was launched in October 2008.
The provincial government has already lent P38-million to the livelihood projects and it plans to increase the maximum amount that can be loaned to associations.
A beneficiary can avail of loans five times depending on their past performance.
Espino said those who have reached the maximum number of times can secure a bigger amount from the Central Bank of the Philippines without collateral since the province is qualified for a credit surety fund for the success of the program.–Johanne R. Macob with report from PIO
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