Presidential Communications Operations Office



  PIA Bldg, Visayas Ave, Diliman, Quezon City, Philippines
  Friday, 28 July 2017 News Before 1 Feb 2012. Click for Latest
Web PIA  
 
home
 
about
 
fotos
 
info
 
links
 
ncrr01carr02r03calmimr05r06r07r08r09r10r11r12r13
PBB Guidelines 2016
Click to Open
PIA Snapshot

120201-r6-goodjob
PIA Online
One Mindanao eNewsmagazine
One Visayas eNewsletter
One Luzon eNewsmagazine
ST@R eNewsmagazine
PIA Members Only:
PMIS | PANP Phone Directory
PIAEA Corner:
Application | View PIAEA Site
Special News Editions:
English.Tagalog.Cebuano
Ilocano.Waray.Hiligaynon
Pangasinan.Other
PIA Specials:
NEW! Cabinet Officials
Jobs.Slides.Specials.Ads. Events.ASEAN.Multimedia
PIA News Archive:
English.Tagalog.Cebuano
Waray.Hiligaynon.Ilocano
Pangasinan.All
Information to Empower Filipinos
English NewsFoto ArchivesRegional WatchOFW Watch
FrontpageHeadlines by RegionNews ArchivePIA SpecialsICT News

PIA Press Release
Wednesday, January 04, 2012

 

Grassroot multi-purpose coop gets fresh loan

by Larry Lopez

TABUK, Kalinga, Jan. 4(PIA)-- Members of Bulanao Multi-purpose Cooperative (BMPC) expect a prosperous year ahead with the P500,000 fresh loan assistance from the Rural Micro-entrepreneur Promotion Program (Rumepp).

Program coordinator Aurora Sanet said Rumepp released on December 28, 2011 the first tranche of the approved P1 million loan application of the coop as capital build-up to borrowers.

Rumepp is a flagship program of the Department of Trade and Industry (DTI) that develops small enterprises in the countryside.

Under this program, beneficiaries are provided entrepreneurial capability and capital aid through soft loans.

The lending conduit of Rumepp under the program is Small Business Corporation (SBC) which releases the loan assistance to client cooperatives.

SBC follows the risk-base lending policy for loans released to cooperatives as basis in charging interest rates, depending on the financial standing of borrowing cooperatives.

Interest rates range from 9 to 12 percent per year, while loans granted to beneficiaries are payable within one year.

Cooperatives charge a pass-on interest rate of 1.2 percent to borrowers, who pay their loans within one year.

Under the Rumepp scheme, Sanet said conduit cooperatives can accommodate non-members who are Rumepp clients provided they secure DTI recommendation to borrow.

Projects to be funded from loans are livelihood and income generating activities aimed to improve the living standards of borrowers.

The program is a mechanism of government to address poverty under President Benigno S. Aquino III development agenda.

The second P500,000 tranche of the loan, Sanet said is scheduled for release in the first quarter after the first tranche shall have been disposed to borrowers. (JDP/LL-PIA CAR,Kalinga)

Latest Stories
  • DOST project beneficiary produces biggest 'ulang' (R02)
  • Solar energy to light up 75 more houses in off-grid areas in NegOr (R07)
  • DA plans to use Mindanao program in Luzon (R11)
  • DSWD 1 marks its 61st anniversary celeb in February (R01)
  • 500 poor families get 'bags of blessing' (R06)
  • Close to 200 Negros Occidental police officers get promotion (R06)
  • NGO urges public to collect, propagate seeds to create native tree forests in CV (R07)
  • Police Information Officers receives commendation medals (R06)
  • DSWD brings Pantawid Pamilya program to Dumaguete City (R07)
  • LGU issues guidelines on use of municipal filling station (CAR)
  • NGO to hold free breast, cervical cancer screening (R07)
  • Aklan detainees trained on proper waste management (R06)
  • Hiligaynon news: DOLE 6 may bag-o nga direktor (R06)
  • Mangrove tree planting to highlight World Wetlands Day (R06)
  • Balikbayan finds ulang production profitable (R02)
  • Hiligaynon news: Impormasyon sa populasyon sa Iloilo nagapakita pagkinahanglan sa pagmanehar sing maayo (R06)
  • Various activities to mark World Wetlands Day in Iloilo (R06)
  • Tagalog News: Tapul Reef, ipinapadeklarang fish sanctuary (MIM)
  • Hiligaynon news: Alert Level sa Yemen napanubo sa level 2 DFA (R06)
  • P118-M worth of Infra projects implemented by Dipolog in 2011 (R09)
    FotoCatalogSitestats  
    GOOD NEWS Series
    goodnews
    PIA Special Sites:

    ASEAN Philippines

    Philippine Official Gazette | Office of the President | Presidential Communications Operations Office
    For comments and feedback, please email PIA Newsdesk
    Copyright © 2005 Philippine Information Agency
    PIA Building, Visayas Avenue, Diliman, Quezon City 1101 Philippines