Antonio Ortiz, NLSP executive director and CEO, said that as of yesterday the more than 2,500 beneficiaries of the Sikap Buhay program have fully paid their loans, ranging from P5,000 to P50,000.
Sikap Buhay is a "no-collateral" loan facility extended to poor residents in Quezon City. It was jointly launched two years ago by the city government and NLSP.
The NLSP, through its conduits, has released P16 million for Quezon City entrepreneurs.
"The Sikap Buhay success has caught the attention of commercial banks which are now willing to release funds for poor communities using the Quezon City model," Ortiz said during the distribution of stock certificates at Bulwagang Quezon City Hall.
He said the NLSP has introduced Sikap Buhay as model for microfinancing program in poor communities across the country.
"The NLSP is committed to help Mayor Belmonte and other local chief executives to empower the poor and assist small and medium sized enterprises along with the thrust of poverty alleviation and employment generation," he said.
Ortiz, together with lawyer Alfeo Vivas, president of the Eurocredit Cooperative and Councilor Godofredo Liban III, distributed stock certificates to 178 Eurocredit members in 12 barangays in the city.
The new Sikap Buhay beneficiaries are mostly housewives engaged in various small business such as sari-sari stores, buy and sell, and eateries.
Ortiz said introduction of the livelihood assistance program in poor communities in Quezon City will soon eradicate the existence of loan sharks. – Perseus Echeminada