CABANATUAN CITY, Nueva Ecija: The provincial government has provided credit to 20 small cooperatives here in a bid to help them boost their businesses.
Florante Serrano, project development officer 3 of the Provincial Cooperative Entrepreneurship and Development Office (PCEDO), said Monday that the provincial government granted a PHP50,000 credit to each cooperative without interest.
The loan is renewable and be paid for 10 months or PHP5,000 per month.
Upon full payment, Serrano said the program beneficiaries can borrow up to PHP100,000 under the same scheme.
“Isa po sa programa ng aming tanggapan ay ang pagbibigay ng livelihood program sa ating promising cooperative upang sila ay matulungan na kahit medyo bago pala sila ay mabigyan ng puhunan upang makapag-put up ng isang negosyo (This is one of the programs of our office to provide livelihood program to our promising cooperatives to help them so that even if they are new, they can have financial capital to put up a business),” he said in a local news program.
Omar Ortiz, chair of the Nueva Ecija Swine Research Agriculture Cooperative, said they will use the loan to help their members revive their livelihood.
On the other hand, Arwin Bonus, a member of the board of directors of the Santor Bongabon Cooperative, said they will use the loan as capital for planting rice and corn.
Source: Philippines News Agency
