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DSWD offers loans to micro-entrepreneurs

Rainier Allan Ronda - The Philippine Star

MANILA, Philippines - More than P700 million for micro-entrepreneurs in poor communities, particularly monsoon- affected areas, is available as no-interest loans to enable them to restart their small businesses, according to the Department of Social Welfare and Development (DSWD).

Under the Sustainable Livelihood Program (SLP), the DSWD has a P1.2-billion fund for loans in the Self-Employment Assistance Kaunlaran (SEA-K) as seed capital  for micro-entrepreneurs this year.

The SLP-SEA-K does not discriminate if a borrower is a beneficiary of other DSWD programs like the Pantawid Pamilya Pilipino Program (4Ps).

It was learned that 48,525 4Ps beneficiary-households have been given seed capital loans amounting to P388,726,674 from the SEA-K fund from January to July.

The DSWD said P57,341,250 was issued to SEA-K borrowers from non-4Ps households given in the same period.

“Target participants of the program are poor families enlisted in the National Household Targeting System for Poverty Reduction (NHTS-PR), prioritizing Pantawid Pamilyang Pilipino Program beneficiaries,” the DSWD said.

The DSWD said the SLP is a community-based capacity building program  seeking to improve the program participants’ socio-economic status.

Borrowers undergo social preparation and capacity-building workshops before deciding what livelihood to venture into, the DSWD added.

Under the SEA-K loan facility, a participant who decides to start a micro-enterprise may avail of a non-interest loan up to P10,000, payable within one to two years; and the amount will vary based on the nature and proposed budget of the micro-enterprise.

Families affected by Tropical Storm Maring and other types of disasters may access the SLP through the DSWD regional offices in coordination with the city/municipal social welfare and development offices, the DSWD said.

DEPARTMENT OF SOCIAL WELFARE AND DEVELOPMENT

DSWD

NATIONAL HOUSEHOLD TARGETING SYSTEM

PANTAWID PAMILYA PILIPINO PROGRAM

PANTAWID PAMILYANG PILIPINO PROGRAM

POVERTY REDUCTION

PROGRAM

SEA

SELF-EMPLOYMENT ASSISTANCE KAUNLARAN

TROPICAL STORM MARING

UNDER THE SUSTAINABLE LIVELIHOOD PROGRAM

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