Groups get P.2 M livelihood assistance
LINGAYEN–Two groups recently received P218,000 combined worth of loans under the Livelihood Assistance Program of the Provincial Government last June 16.
The recipients of the second batch of the assistance program for this year were Don Montano Garments Craft Association, Inc. in Umingan and the Payar Women’s Association in Malasiqui, both involved in commodity trading.
Ellsworth Gonzales, Livelihood Assistance Program Head of the Provincial Population Office, said the program provides financial assistance, like loans, as start-up capital for micro, small or medium-sized businesses.
Gonzales said among the priority target groups of the program are women’s groups to help increase their productivity and farmers who are vulnerable to loan sharks.
Loan recipients are given a four percent interest for a six-month loan cycle, and if paid before the due date, interest is reduced to one percent, allowing recipients to keep the three percent as part of the income of the association.
The program also caters to groups involved in retailing, production (e.g. sawali and garments production), trading and animal raising (poultry).
The program, launched in 2008 by Governor Amado Espino, Jr. and has so far released P10 million, benefitted 84 groups with 1,774 beneficiaries and eight individuals.
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