[av_one_full first min_height=” vertical_alignment=” space=” custom_margin=” margin=’0px’ padding=’0px’ border=” border_color=” radius=’0px’ background_color=” src=” background_position=’top left’ background_repeat=’no-repeat’ animation=”]
[av_heading heading=’ ‘Avoid loan sharks’’ tag=’h3′ style=’blockquote modern-quote’ size=” subheading_active=’subheading_below’ subheading_size=’15’ padding=’10’ color=” custom_font=”][/av_heading]
[av_textblock size=” font_color=” color=”]
Sunday, May 21, 2017
[/av_textblock]
[av_textblock size=” font_color=” color=”]
SAN JOSE, Antique – Microentrepreneurs in Antique are being encouraged to stay away from usurious lenders.
They should instead avail themselves of financial assistance from the “Pondo para sa Pagbabago at Pag-asenso” or P3 program of the government, said Department of Trade and Industry (DTI) information officer Joy Cardinal here.
“This is a microfinance initiative of President Rodrigo Duterte for the micro, small and medium enterprises,” Cardinal said.
She explained the salient features of the P3 during the recent meeting of the Antique Association of Information Officers hosted by the local government of San Remigio, Antique.
Loan amounts to end-borrowers will be in the range of P5,000 to P100,000, at a maximum interest rate of 2.5 percent with no collateral requirement.
The loans will be channeled through microfinance institutions that the DTI will identify, as there will also be a program management office to oversee the management and monitoring of the P3.
Meanwhile, Presidential Spokesperson Ernie Abella said the administration remains focused in bringing prosperity to all, especially to the disadvantaged and marginalized sectors.
“We have therefore initiated several pro-poor undertakings, such as free medicine to indigents, higher pension for seniors, increased combat duty pay and combat incentive pay for soldiers and policemen, additional rice subsidy to our conditional cash transfer recipients, and the microfinancing system (or pondo sa pagbabago at pag-asenso), which we have already piloted in some areas,” Abella said. (PIA-Antique/PN)
[/av_textblock]
[/av_one_full]