Capitol extends P5.6-M loan assistance to 37 groups
LINGAYEN – Thirty-three cooperatives and four micro, small and medium enterprises (MSMEs) were the latest beneficiaries of a P5.6 million in financial assistance from the provincial government.
Gov. Amado Espino III led the awarding of the financial assistance the Narciso Ramos Sports and Civic Center (NRSCC) on January 9 and underscored the high repayment rate of 95% of the loan assistance program that made previous maximum loan amount of P250,000 increase to approximately P500,000 in partnership with Land Bank of the Philippines (LBP).
Consequently, eight renewal cycles will also be expanded to 10 cycles to give way to beneficiaries who are now on their 7th cycle.
In his message, Espino reiterated the provincial government’s commitment to provide and support livelihood opportunities to Pangasinenses, especially, through its Livelihood Assistance Program (LAP).
The first batch of LAP beneficiary groups this year, includes Takipan KALIPI Association (Mangatarem), Baracbac KALIPI Association (Mangatarem), Bunagan KALIPI Association (Mangatarem), Tamaro Farmers Association (Bayambang), Young and Adult Farmers of Angio Consumers Cooperative (San Fabian), Bagatan Sid-Vil Farmers Irrigators Association (Rosales) and Nandacan KALIPI Women’s Association (Bautista).
New MSME beneficiaries are Meljane Native Cakes (Alaminos City) and G-Five Farm (Sta. Barbara).
Since the launching of the LAP in 2008, the said program has already released more than Php128 million.
The first batch of LAP this year, aiding a total of 1,142 beneficiaries, is joined by nine seven new beneficiaries and two new MSMEs. (PIO/SMDG)
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