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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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
The National Electrification Administration (NEA) exceeded its full-year target for lending to electric cooperatives (ECs) nationwide in just nine months of 2020. Loan disbursements, including calamity loans, to ECs between January to September this year totaled P364.542 million, data from the NEA Accounts Management and Guarantee Department (AMGD) showed. Excluding calamity loans, the NEA has […]
The National Electrification Administration (NEA) collected P773.91 million in loan amortization payments from the electric cooperatives (ECs) in the first six months of 2020. This translates to 95.90-percent collection efficiency, the NEA Finance Services Department said in a report submitted to Administrator Edgardo Masongsong. NEA offers various loan windows to qualified ECs, such as regular, […]
With the Bayanihan to Recover as One Act (Bayanihan 2) now signed into law, Union of Local Authorities of the Philippines (ULAP) National President and Quirino Governor Dax Cua on Saturday urged local government unit (LGU) executives to make full use of loans and loan subsidies now available to LGUs in order to help them […]