Philippine News
Women groups get P1.17-M loan grant
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He said a beneficiary-group reaches the second level after completing the repayment of their startup grant and was able sustain its venture. (Pixabay photo)GENERAL SANTOS CITY— The provincial government of South Cotabato has released an additional P1.175 million in livelihood loan grants to four women’s groups under its flagship Self-Employment Assistance Kaunlaran (SEA-K) program.
Romel Salanio, provincial SEA-K coordinator, said the grants were released Wednesday to three new program beneficiaries and two existing groups that already reached the initiative’s second level or cycle.
He said a beneficiary-group reaches the second level after completing the repayment of their startup grant and was able sustain its venture.
The three new loan recipients are the Pag-ibig SEA-K Association of Barangay Zone III in Koronadal City that received P260,000; and, MCF-RICLA SEA-K Association of Silway 8, Small Business Women SEA-K Association in Polomolok town, which got P250,000 each.
The Survivor Savings SEA-K Association of Barangays Lumakil and Glamang in Polomolok town received P415,000 for the program’s second cycle.
Salanio said the release of the loan grants is part of the continuing expansion of the program, which has already institutionalized by the local government.
“We’re currently processing a number of grants and some of these were already approved and ready for release,” he said.
Next week, he said five more groups under the first and second levels will receive their newly-approved loan grants.
The first level beneficiaries are the Daisy SEA-K Association of Brgy. Magsaysay, Polomolok (P350,000); Small-scale Tilapia Operators SEA-K Association of Poblacion, Lake Sebu (P260, 000); and, Muslim Women SEA-K Association of Koronadal Proper, Polomolok (P150, 000).
Those under the second level are the Golden Lady SEA-K Association of Brgy. Mambucal, Koronadal City (370, 000) and Tupi Fruit Park SEA-K Association (P375, 000).
The SEA-K program, which is supported by the Department of Social Welfare and Development, mainly aims to enhance the socio-economic status of poor families in marginalized communities in partnership with local government units.
The initiative involves organizing prospective beneficiaries into community-based associations and the training of their members on various entrepreneurial skills.
Under the program, members of SEA-K associations may borrow up to a maximum P15,000 to finance their small business ventures.
The loans are payable in monthly installments or repayments within a two-year period at zero interest.
Salanio added that continuing expansion of the program is the result of the good records generated by the current beneficiaries in terms of the sustenance of their ventures and repayment of the loan grants.
