QC lauds women entrepreneurs

Quezon City Mayor Feliciano Belmonte Jr. lauded some 6,000 women entrepreneurs for leading the fight against poverty through their participation in the Task Force Sikap Buhay (TFSB) livelihood assistance program of the city government.

"You have proven that you can be self-reliant," Belmonte told participants of the second Women Summit held at the Amoranto Sports Complex the other day.

The summit is a gathering of member-borrowers of the National Livelihood Support Fund (NLSF) and Quezon City government’s joint micro-finance program under the TFSB.

Belmonte and NLSF officer-in-charge Eugenia Sinnung led the ceremonies, which was highlighted by presentation of special awards to outstanding women entrepreneurs benefiting from the NLSF-Quezon City program.

Checks worth P5,000 to P15,000 were also distributed during the ceremony.

Quezon City Representatives Annie Susano, Nanette Castillo Daza, and members of the City Council were also present to witness the awarding ceremony.

The TFSB, which the city government and the NLSF launched on April 16, 2002, is among the poverty alleviation programs being implemented by the administration of Belmonte.

From a seed loan of P3 million from the NLSF and an initial membership of 248, the micro-finance program has become a success story. The number of members has mushroomed to 6,700 borrowers and loan releases have reached P43.19 million.

Under the program, an individual borrower may avail of non-collateral loans ranging from P5,000 to P50,000 after attending basic orientation.

The loans are released by several NLSF fund conduits in the city, including the Cooperative Rural Bank of Bulacan Inc. and Euro Credit Cooperative. The program has been able to maintain a 100 percent repayment rate.

Sinnung said at least 90 percent of the TFSB members were unemployed housewives.

"This program has empowered many women who are now in the forefront in the fight against poverty as they engage in various income generating project in their localities," Sinnung said. – Perseus Echeminada