Project has 100% repayment scheme
Gov. Espino distributes P2.7M loan assistance to various groups
LINGAYEN--Gov. Amado T. Espino, Jr. distributed anew some P2.7-million worth of checks to the various livelihood associations in Pangasinan under the province’s livelihood loan assistance program.
The recent distribution benefitted twenty-three associations from the various parts of the province who received the assistance as loan renewals.
Gov. Espino said that as of July, some P12.7-million worth of livelihood assistance has already been granted to different women’s associations.
He also noted that the recipients have been responsible borrowers as they have fully met the 100% repayment scheme.
Gov. Espino said the program, implemented through the Provincial Population Office, is one of his administration’s thrusts which aim to help Pangasinenses especially the women augment their family income to help uplift their living conditions.
It is likewise aimed at generating more livelihood and employment opportunities for the underprivileged to increase income and improve access to basic needs.
Ellsworth Gonzales, program officer said this is the 3rd batch of distribution for 2010 bringing the number of groups who have benefitted from the program since 2008 to 106 organized groups and 9 micro entrepreneurs bringing the total number of beneficiaries to 2292.
The organized groups received a loan amount ranging from P100, 000 to P150, 000.
Catherine Rose Cabuyadao, a borrower from Cauringan Women’s Association in Sison town said she is very thankful with the loan grant because aside from having her own business, a sari-sari store, she was also able to finish college. With another loan grant from the province, she intends to expand her business to earn additional income for her growing family.
The livelihood program of the province caters to micro, small and medium enterprises including marginalized farmers/fisherfolks, community-based women’s group and individual entrepreneurs.
Under the program, the association can avail of a P100,000 credit assistance with 4% interest in six months. In case of payments made before due date, a rebate of 2.5% will be given to the association as their capital share.
Governor Espino said this payment scheme strategy encourages the borrowers to become responsible and help the association sustain its livelihood program to benefit its members. (PIO/Angeline D. Villanueva)