Presidential Communications Operations Office

  PIA Bldg, Visayas Ave, Diliman, Quezon City, Philippines
  Saturday, 6 June 2020 News Before 1 Feb 2012. Click for Latest
Web PIA  
Region CAR Submenu
Latest News
News Headlines
Foto Releases
One Luzon

Best Logo. Aeronne Paul Coronel of Benguet State University, with his winning design for the 'Save Balili River, Count Me In! Logo design contest of the Balili River System Revitalization Coalition (BRSRC) during the awarding program cum Kapihan media forum at the Benguet State University, Thursday. The handing of cash prize and certificate of recognition were La Trinidad Mayor Greg Abalos and Raffy Tallocoy of the Baguio CityMayor's Office. (Photo By Lito Dar/PIA-CAR)
Cordillera Administrative Region

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
  • LGU issues guidelines on use of municipal filling station (CAR)
  • Kalinga nutrition congress moves to reduce malnutrition (CAR)
  • NCIP joins 4Ps planning workshop in Baguio city (CAR)
  • Kalinga holds 1st Health Forum (CAR)
  • Kaelco proposes 24-hout power service (CAR)
  • 30 micro-firm owners take management & shop floor seminar (CAR)
  • Competitive exams for fisheries scholarship program on March 17 (CAR)
  • DepEd USec inspects school projects in Ifugao (CAR)
  • Tanudan migrant workers group to hold medical mission in home town (CAR)
  • Ifugao town organizes committee on anti-trafficking, VAWC (CAR)
  • NCCA sustains SLTs in preserving Benguet's cultural heritage (CAR)
  • DPWH assures better road in time for Panagbenga (CAR)
  • Baguio city mayor reiterates call for waste segregation, commits to obey SC order on use of Irisan dumpsite (CAR)
  • “Lames Festival” brought more fun, as La Paz celebrates town fiesta (CAR)
  • CSC- Abra encourages more nominations for awards program (CAR)

    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