CEBU, Philippines - A check for P1.920 million has been given to the Lapu-Lapu City Confederation of Tricycle Operators and Drivers Association Inc. (LACTODA) as assistance to members of the group who wish to put up their own micro business.
The money is part of the P5 million micro financing package coming from the Office of the President.
In a simple ceremony held recently at the Lapu-Lapu City Sports Complex located at the City Hall Grounds, Mayor Arturo O. Radaza together with Mr. Leonardo C. Cruz, the senior vice president of the Philippine Postal Bank, presented to Mr. Felix S. Vila, president of LACTODA, the P1,920,000.00 check.
The amount will be divided among the many tricycle drivers and operators who availed of the package.
In his speech, Radaza said the fund is intended to be distributed to the drivers and their spouses in order for them to start their own micro business.
It is a part of the continuing effort of the Office of the President and the current administration in Lapu-Lapu City to help common individuals find access to funds to finance their small business endeavors.
Also in attendance to oversee the disbursement of the money were Ms. Nelly Estranero, PGMA Micro Finance Consultant for the Visayas and Hon. Eddie Cuizon of the Lapu-Lapu City council and chairman of the committee on transportation. —Garry B. Lao (FREEMAN NEWS)