CITY OF SAN FERNANDO -- Some P49.20 million has been released by the Provincial Government of Pampanga for its Negosyo King Panyulung Program (NPP) benefiting some 6,558 aspiring micro-entrepreneurs.
A statement from the Provincial Information Office said that the beneficiaries, who are members of different associations, received the said loans in a span of four years of the current administration.
Governor Lilia Pineda advised the micro-entrepreneurs to look into the possibility of setting up mini-markets in barangays with all the necessities and provisions readily available to the community members.
The governor encouraged them to continuously study and look for ways to further increase their earnings to fully maximize their loans from the NPP.
"So that our businessmen will no longer depend on loan sharks and earn more," said Governor Pineda in the dialect. She added that the farmer-entrepreneurs will no longer purchase fertilizers and seedlings using borrowed capital.
The NPP is a livelihood credit assistance program of the Capitol, which has two program categories where entrepreneurs may avail of loans to start up their respective businesses.
The NPP-1 targets the marginalized sector of the province, lending P5,000 with a one-year-to-pay scheme to qualified beneficiaries with viable projects.
Meanwhile, the NPP-2 provides college graduates and undergraduates and cooperatives with a passion for business access to ready credit. The program provides a loan amount of at least P20,000 and a maximum of P200,000 with a fixed annual interest of 6 percent.
The beneficiaries have been identified by their respective Municipal Social Welfare and Development Office.
The NPP is implemented through the Provincial Cooperative and Entrepreneurial Development Office (PCEDO).
The PCEDO said there will be new developments in the program as it will embark on institutional development for various sectors like vegetable growers, livestock producers, NPP beneficiaries, furniture industry workers, upland and coastal communities, sampaguita growers, dressmakers, and gay organizations.