LAOAG CITY, Nov 20 — Thirty-five small-scale entrepreneurs (SMEs) benefited from the Ilocos Norte provincial government’s Self-Employment Assistance Kaunlaran (SEA-K) program.
SEA-K beneficiaries received a cash grant of P5,000 last November 13 from the office of the Provincial Social Welfare and Development Office (PWSDO).
“The 35 beneficiaries are members of the Vegetable Vendors Association of Bangui town who applied for the loan and worthy enough to meet the qualifications” Felicitas Sales of the PSWDO said.
She said that the PSWDO along with the elected officers of the said association will be responsible in safeguarding the regulation of the loan.
The loan program of the provincial government focuses on providing non-collateral and interest-free seed capital.
It has a term agreement of a monthly installment of P416 payable within a year.
Ilocos Norte Gov. Imee R. Marcos approved the SEA-K Program after seeing that it can help Ilocanos who belong to low-income barangays to boost their entrepreneurial capacity and develop their own micro-enterprises, thus the possibility for poverty reduction.
The SEA-K Program in Ilocos Norte is funded by the 20 percent Development Fund of the provincial government. (ANL/CDG-PIA 1 Ilocos Norte)