PORAC -- Some 50 micro-entrepreneurs here received loan assistances from the Lourdes Tuason Arroyo Foundation Inc. through the facilitation of Mayor Condralito dela Cruz and Vice Mayor Dexter David.
Dela Cruz and David led the distribution of P5,000 loan assistance each to 50 residents engaged in micro businesses in the town. The loans were presented at the Mayor’s Office the other day.
The loans are payable within six months at zero percent interest.
The loans, according to David, will provide start-up capital for the beneficiaries to improve and expand their businesses. He added that small scale entrepreneurs should be given enough support to fully improve their micro business and graduate to medium scale businesses.
“More opportunities to expand means more income and jobs for the micro entrepreneurial sector,” David added. He added that micro and medium businesses are the lifeblood of the local business sector in Porac as these form the majority of the commercial business activities in the barangays and the town center.
He added that helping the local micro entrepreneurs would greatly rebound in the long run in terms of stronger and wider micro industry sector.
The loans came from the Lourdes Tuason de Arroyo Foundation, a foundation founded in 2012 by the Arroyos in honor of their matriarch Doña Lourdes “Lulu” Tuason de Arroyo, a gentle and soft-spoken philanthropist.
The loans were made possible through the help of Second District Representative Gloria Macapagal Arroyo and son Mikey Arroyo.