MADECO: Comval's first "Koopnegosyo" loan recipient from DBP
by R. Manugas
Compostela Valley (16 June) -- Under the Koopnegosyo Surety Fund of the province, Development Bank of the Philippines has started the release of loan to all qualified cooperatives who wanted to avail the program for additional business/investment capital to help them in their business development.
Maco Development Cooperative (MADECO) was the first recipient of the 1 million Koopnegosyo loan from DBP, it was turned over last June 3 through a ceremonial release on the occasion of the Annual General Assembly of Compostela Valley Koopnegosyo Surety Fund.
Handing Over the 1 million check to Engr. Abenir Labja ?present MADECO Chairman of the Board and Oversight Committee Chairman of Koopnegosyo were Governor Arturo T. Uy and Mr. Fernando Lagahit ?Senior Assistant Vice President and Regional Marketing Center Head of DBP Southern Mindanao.
Governor Uy is very thankful because the Compostela Valley Koopnegosyo Surety Fund already starts its task of extending capital assistance to all cooperatives and entrepreneurs who are in need of additional capital and willing to avail loan from the bank for business development and or expansion.
More cooperatives is expected to avail of the loan and series of releases will be undertaken to all cooperatives under the Koopnegosyo Surety Fund of the province. Twenty Four (24) cooperatives is due for release anytime because their application was already approved by Bangko Sentral ng Pilipinas. (IDS Comval) [top]