More entrepreneurs in Borongan get gov't assistance

In line with President Gloria Macapagal-Arroyo's vision to provide better job and livelihood opportunities for the poor, Quedancor of Borongan has, since August of 2004, released a total of P83M in credit facilities to small time agri-business operators.

This was reported by Quedancor Borongan Manager, Eddie Quillopa in a brief interview with Sammy Candido (PIA). Quillopa disclosed that some 2,429 beneficiaries, government employees included have in fact availed of the assistance.

Also, Quedancor extends assistance to informal sectors, the fisherfolks, entrepreneurs and product marketers. While other banks would not grant loans to these groups because of collateral requirements, they do welcome landless individuals as so mandated by the President to continue the commitment.

Quillopa further said that three or four member-groups are preferred to be granted with the loan, such that P25,000.00 to P150,000.00 is availed of each member of a small group of microfinance entrepreneur: farmers, fisherfolks, meat vendors and sari-sari store. However, a mayor's permit is required to be complied with, background investigation and credit investigation report.

Mrs. Lolita Alar who owns a mini grocery in a Borongan poblacion barangay was one of the lucky Quedancor borrowers. She and her two other women were granted some P300,000.00, but as the group leader, she is tasked to promptly collect the monthly amortization to avoid charges for delayed remittances. Mrs. Alar finds happiness in her booming store as the lending institution has extended her and her group additional capital.

Another business-minded individual who availed of the loan was a piggery owner Raul Patungan of brgy. Bato. Patungan proudly reported that from his first loan he was able to purchase 30 heads of fattening pigs for P2,000.00 each.

Having fully paid the P60,000.00 he first loaned, he was granted P224,000.00 which made him buy 20 heads of sows.Patungan jibed that since he is a good payor, Quidancor increased his loan availment. He added that a borrower is only given a year to pay his loan, and if he is not a delinquent payor more "blessings" are granted to him in loan. (PIA)