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PIA Press Release
2010/11/12

DSWD releases funds for SEA-K beneficiaries in Ifugao

by Vency D. Bulayungan

Hingyon, Ifugao (12 November) -- The Department of Social Welfare and Development-Cordillera released P300,000 to 30 beneficiaries of the Namors Self Employment Assistance- Kabayan, Inc here.

Vivian Kindipan of the Provincial Social Welfare Office said that the amount is intended as seed capital assistance to the members of the said association. The project seeks to provide target communities with identified successful SEA-Ks continuing access to micro credit assistance to finance expanded micro enterprise projects of its members and other needy economically poor residents of the community.

Kindipan said that the initial capital fund shall be released to the Kabayan and will lend it to the members with a mandatory interest rate of 10% for Micro Enterprise (ME). The amount of financial assistance per member ranges from P5,000-20,000 for ME and Home Improvement and a minimum of P25,000 for basic shelter construction. Tthe term of payment shall be based on the affordability of the members to pay but shall not exceed three years for ME," she said.

The SEA-K Kaunlaran Integrated Program level II is a follow up program for beneficiaries or associations who have undergone or graduated from level 1 and have manifested the capability to manage a larger amount of credit assistance.

This program shall provide these associations with a continuing access to credit to finance expanded micro-enterprise projects to its members, and other needy, economically active poor students of the community, affordable basic shelter provision, home improvements and other basic needs that maybe identified by the client. (PIA-Ifugao) [top]

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