Categories
Politics

GIVE TRANSPORT COOPS FUNDS TO MODERNIZE – ZUBIRI

Senate Majority Leader Migz Zubiri outlined legislative plans for the transport cooperative sector at the 1st Mindanao Transport Cooperative Congress, putting particular emphasis on cutting down red tape for loans and setting up a modernization loan fund for transport cooperatives. Zubiri, who chairs the Senate Committee on Cooperatives, was a guest speaker at the 1st […]

Categories
Government

NEA RELEASES P455-M IN LOANS TO COOPS AS OF AUGUST

The National Electrification Administration (NEA) has released P455.293 million worth of loans, including calamity loans, to 19 electric cooperatives (ECs) under the Enhanced Lending Program from January to August this year. Data from the NEA Accounts Management and Guarantee Department (AMGD) as of August 31, 2021 showed that the bulk or P380.293 million of these […]

Categories
Government

DA ADDS P300M FOR ASF RECOVERY LOANS – DAR

The Department of Agriculture (DA), through its Agricultural Credit Policy Council (ACPC), has allotted an additional P300 million for lending to backyard and semi-commercial raisers in “green zones” or areas free from the African Swine Fever (ASF). “The additional amount will help support our continuing efforts to revive the country’s hog industry,” said Agriculture Secretary […]

Categories
Government

5 ELECTRIC COOPS GET P123-M NEA LOANS IN APRIL

The National Electrification Administration (NEA) released P123.118 million in loans in April alone to improve the rural electrification infrastructure of five electric cooperatives (ECs) in the country. The recipients were Bantayan Island Electric Cooperative, Inc. (BANELCO), La Union Electric Cooperative, Inc. (LUELCO), Quezon I Electric Cooperative, Inc. (QUEZELCO I), Bohol II Electric Cooperative, Inc. (BOHECO […]

Categories
Politics

SENATE MUST OK BILL ON FARMER LOANS — VILLAFUERTE

Camarines Sur Rep. LRay Villafuerte has called on the Senate to fast-track its approval of a year-old House-approved measure that aims to enable banks to expand its assistance  to agriculture by amending certain provisions of the Agri-Agra Law, following reports that these lending institutions have again fallen short of their loan compliance to the sector […]

Categories
Government

DTI APPROVES OVER 21K SMALL BUSINESS LOANS – LOPEZ

The Department of Trade and Industry (DTI), through its financing arm the Small Business Corporation (SBCorp), has approved a total of 21,695 loan applications under the Bayanihan COVID-19 Assistance to Restart Enterprises (CARES) program to provide micro, small, and medium enterprises (MSME) with urgent relief needed to restart their businesses amid the pandemic. “Our efforts […]

Categories
Government

NEA: POWER COOPS LOANS REACH P440 MILLION IN 2020

The National Electrification Administration (NEA) disbursed P440-million worth of loans, including calamity loans, to 20 electric cooperatives (ECs) last year. Data from the NEA Accounts Management and Guarantee Department (AMGD) showed that the total loans extended to ECs from January to December 2020 reached P439.983 million.  Of the total calamity loans released by the NEA […]

Categories
Politics

ROLLY-HIT FARMERS CAN AVAIL OF LOANS – PANGILINAN

Senator Kiko Pangilinan advised the estimated 20,000 farmers and fishers affected by Typhoon Rolly to avail themselves of the Department of Agriculture’s zero-interest loans and crop insurance payouts. “Merong nakalaang pera ang DA para sa ganitong mga sitwasyon. Every farmer can borrow P25,000 in zero-interest Survival and Recovery Loan payable in 10 years. The Philippine […]

Categories
Government

MSMES CAN GET DTI LOAN FOR 13TH MONTH PAY – LOPEZ

Same terms will be applied for small-scale business owners that would like to borrow from the COVID-19 Assistance to Restart Enterprises (CARES) fund for the 13th month pay of their employees, Trade Secretary Ramon Lopez said. This is after Labor Secretary Silvestre Bello III bared that the Department of Trade and Industry (DTI) committed some […]

Categories
Government

TOURISM MSMES TO GET LOANS FROM SB CORP. – DOT

The Department of Tourism (DOT) and the Small Business Corporation (SB Corp.) of the Department of Trade and Industry (DTI) signed a memorandum of agreement (MOA) to finalize the Coronavirus Aid, Relief, and Economic Security (CARES) for Tourism Rehabilitation and Vitalization of Enterprises and Livelihood (TRAVEL) program that will extend loan assistance to micro, small and medium […]