Monday, October 16, 2006
Group gives credit access to small biz
By Joy Romares-Sevilla
THE National Livelihood Support Fund (NLSF) has embarked on micro financing program that can be utilized for the promotion, generation, and development of livelihood opportunities for agrarian reform communities.
In a micro financing forum Friday held at the Garden Oases Restaurant in Davao City, Undersecretary Gondelina Amata, NLSF executive director, presented how the government micro financing program could help market cooperatives and associations, rural finance institutions, and non-government organizations which are their prospective program partners.
Amata said that NLSF has Livelihood Credit Assistance Program for micro-enterprises engaged in agricultural production, agro-processing, manufacturing, commercial/trading, general services, and marine and aqua-culture.
These micro-enterprises could avail a maximum loan of P50,000 with an interest rate of nine percent per annum.
Amata said that micro-enterprises should be given credit, adding that it is a tool for poverty alleviation.
She said that micro finance has become a profitable venture to most institutions if implemented properly and conscientiously.
Amata said the government has already placed micro finance as its cornerstone to fight poverty.
For Bisaya stories from Davao. Click here. (October 16, 2006 issue)
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