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PIA Press Release
2007/06/07

Davao City, ComVal score highest in loan payment

Davao City (7 June) -- Poor families in Davao City Poblacion and District 2 in Compostela Valley are the winners in paying loans provided through the Self-Employment Assistance Kaunlaran Program (SEA-K) of the Department of Social Welfare and Development.

Arlene L. Morpus, DSWD project development officer revealed that Davao City Poblacion East and West tied with ComVal's Maco, Mabini, Nabunturan and Mawab at a high 95% repayment rate.

Trailing behind with 94% are Davao City's Agdao-Buhangin District and Davao del Norte's District 1 towns including Tagum City, Morpus said.

SEA-K is a capability building and livelihood program which seeks to enhance the socio-economic skills of poor families through the organization of community-based associations for entrepreneurial development.

With a minimum number of 25 per group, SEA-K members are trained on value formation and basic business management. Members are then accessed to interest-free capital assistance payable in two years. While the SEA-K member pays his loan, he also remits a portion as savings under the SEA-K savings mobilization scheme.

When three to four SEA-K Associations federate, they form the SEA Kabayan.

"Presently, we have organized a total of 784 SEA-K associations in the region with a seed capital of P69,176,898.89. For the first quarter this year, P56,775,463.04 or 82% has been paid up with a total savings of P20,480,954.31," Morpus proudly relates.

DSWD records show that SEA-K associations have spawned 39 SEA Kabayans which availed some P43,254,855 worth of loans. To date, there are 12,000 SEA Kabayans and SEA-K associations in the country, as per records.

These groups have ventured into handicraft, accessories production, food processing, toy craft, cake decors, ornamental plants, sari-sari store, sewing, guava-apple production, catering, tables and chairs rental, hog butchering, ice cream making, trisikad and tricycle operation, buying and selling, among others.

Meanwhile, as part of its Oplan Kabuhayan Program, the office of Cong. Prospero Nograles have also funded some 47 SEA-K groups in the First District of Davao City with a total Priority Development Assistance Fund (PDAF) of P6,950,000. (DSWD/sms/degsduron-PIA XI) [top]

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