Sikap Buhay beneficiaries reach 3,674

The Puhunang Pangkaunlaran Sikap Buhay (PPSB), the no-collateral loan facility program of Quezon City Mayor Feliciano Belmonte Jr., has benefited at least 3,674 small entrepreneurs from poor communities, a top official of the National Livelihood Support Fund (NLSF) said yesterday.

Antonio Ortiz, NLSF executive director and chief operating officer, said that as of February, the PPSB, which is a joint undertaking of the NLSF and the Quezon City government, has disbursed no-collateral loans amounting to P26 million.

In his report to Belmonte, Ortiz said partners of the PPSB — the Rural Bank of Bulacan (CRBBI) and the Eurocredit Cooperative — have expanded their outreach to 53 barangays in the city.

"It also noteworthy that the program has 100 percent re-payment rate at the end-borrower level, which shows our success in transforming them into income earners and entrepreneurs," he said.

Ortiz pointed out that by March an additional P3.3 million will be released to cater to 554 more borrowers in various parts of the city.

Because of the perfect repayment record, the PPSB is now being adopted by the national government as its livelihood program in various parts of the country.

The PPSB was launched by the Quezon City government and the NLSF in April 2002 to help entrepreneurs in poor communities. Under the program, borrowers themselves become guarantors of other followers.

The livelihood program had an initial seed capital of P3 million and membership of 248 when it began operating in the city.

Apart from the PPSB, the city government also launched livelihood training programs to jump-start small businesses in the barangays. A total to 28,697 people availed of training while 14,000 people received capital assistance from the city government. – Perseus Echeminada