Lawmaker mulls loan program for bread, meat-processing traders

Sunday, September 11, 2011

CITY OF SAN FERNANDO — Fourth district Representative Nestor Tolentino has started talks with the Provincial Cooperative and Entrepreneurial Development Office (PCEDO) and some bread makers, meat processors and small craft entrepreneurs from the towns in his district for the possibility of a loan program for business development.

Tolentino said the move is supported by PCEDO Head Mamerto Gatus and has been in the works since last week. He said they are targeting a loan program for entrepreneurs and would include skills training and revenue and capital management seminars.

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"We would like to see beneficiaries here graduate into medium and then into big enterprises. Once we can make one of them successful, we will start a ripple effect as business development entails manpower and more manpower requirements mean more jobs for our people," Tolentino said.

Under the said plan, entrepreneurs may borrow a minimum of P5,000 to as high as P100,000, according to Tolentino. He added that the PCEDO has a good track record for implementing such programs.

Just recently, the PCEDO implemented the ABE-K livelihood program, which provides each member a soft loan of P5,000 to finance small-scale income-generating projects.

The loan, payable in 50 weeks without interest, is used by ABE-K members to pursue micro-enterprises such as sari-sari store, fruit and atchara vending, repacking, silver works, ready-to-wear, electronics and bicycle parts, catering, e-load, fishball and direct selling.

Aside from expertise on business planning and management, the participants are also given input on values enhancement, especially on payment of loans and saving one's earnings.

Tolentino said a comprehensive program for the new batch of entrepreneurs will be available this week.