CEBU, Philippines - Fifty-three poor families from the three mountain barangays of Cebu City yesterday availed a total loan of P1.611 million loan for livelihood projects as part of the national government’s Self-Employment Assistance-Kaunlaran (SEA-K) program.
Virgilia Piccio, project evaluator of the Department of Social Welfare and Services (DSWS), said the 22 of the beneficiaries are from barangay Pamutan, 16 from Adlaon and 15 are from Taptap.
Piccio said each of the beneficiaries loaned amount vary depending on their respective livelihood projects but it is not below P25,000 and not more than P50,000. The loan is payable within a three-year period without interest.
Estrellita Leyson, the leader of the beneficiaries, said her members are engaged in flower and vegetable farming, hog raising, dress making and planting sweet corns.
The Self-Employment Assistance-Kaunlaran program is the Department of Social Welfare and Development (DSWD)’s comprehensive approach and investment in social capital towards poverty alleviation.
SEA-K, as the project is known, aims to provide the poor and disadvantaged sector of the society with timely access to credit and development opportunities.
“Kada buwan ang among bayad aron nga inig-abut sa tulo ka tuig impas na,” said Leyson, who said that those who availed a loan of P25,000 only pays about P650 every month for three years.
She is optimistic that as the members’ economic activities grow and the SEA-K’s financial capabilities improve, they will be able to avail of other resources from both formal and informal sectors. (FREEMAN)