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Government

GOV’T TO OFFER MSMES ZERO-INTEREST LOANS – LOPEZ

Micro, small and medium enterprises (MSMEs) will be offered zero-interest loans under the Philippine Economic Stimulus Act (PESA) bill, government officials said. “If we’re able to get zero-cost funding, that’s the fund that we can lend at zero percent also. And then out of that funding, we will just ask for administration fee. So that’s […]

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Politics

MICROFINANCING, LOANS AND CREDIT ESTABLISHMENTS ALLOWED TO OPERATE WITHIN QUEZON CITY AMID THE ENHANCED COMMUNITY QUARANTINE — BELMONTE

In Executive Order 29, Mayor Joy Belmonte stressed that the city government is duty-bound to ensure the availability of sources of loans and credit to the poor and marginalized, during the ECQ.“Entities that are duly regulated by governmental authorities to offer loans and credit will be allowed to operate so they can provide assistance to […]

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Politics

WAIVE PENALTIES FOR DELAY IN TEACHERS’ LOAN PAYMENTS DURING LOCKDOWN – GATCHALIAN

Senator Win Gatchalian reminded private lending institutions accredited under the Department of Education’s (DepEd) Automatic Payroll Deduction System (APDS) not to impose penalties on late loan payments by teachers during the lockdown being enforced to contain the spread of the coronavirus disease 2019 (COVID-19) pandemic. In a March 20 letter addressed to private lending institutions […]

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Politics

IMPLEMENT 30-DAY GRACE PERIOD FOR RENT, LOAN PAYMENTS DURING COVID-19 QUARANTINE – GATCHALIAN

Senator Win Gatchalian is pushing for the implementation of a minimum 30-day grace period for loan payments within the enforcement period of the enhanced community quarantine over Luzon. Gatchalian is proposing that the grace period for loan payments cover all banks, including quasi-banks, financing companies, lending companies, and other financial institutions, both public and private, […]

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Politics

GIVE 1-YEAR LOAN AMORTIZATION MORATORIUM FOR TAAL ERUPTION VICTIMS – GATCHALIAN

To help them rebuild their lives amid the calamity, Senator Win Gatchalian is calling for the imposition of a one-year moratorium on loan amortizations for residents affected by the Taal Volcano eruption. Immediately upon Congress’ resumption of session, Gatchalian filed Senate Resolution No. 289 (SRN 289) urging the Government Service Insurance System (GSIS), the Social […]

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Government

NEA BACKS COOP ELECTRIFICATION PROJECTS THROUGH LOAN ASSISTANCE

The National Electrification Administration (NEA) has continued to support the electric cooperatives (ECs) in their various electrification projects focused on improving their services to the communities they serve.  Latest data from the NEA Accounts Management and Guarantee Department (AMGD) showed that from January to June 2019, the state-run agency released P395 million worth of loans to […]

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Government

ELECTRIC CO-OPS SECURE NEA LOANS FOR INFRA IMPROVEMENTS

Electric cooperatives (ECs) are embarking on construction and improvement of infrastructures that will help ensure better operational efficiencies and continuous delivery of electric services to their consumers. In the first quarter of this year, at least 13 power co-ops availed of loans amounting to P250 million from the National Electrification Administration (NEA) to bankroll their […]

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Politics

PIMENTEL SPONSORS NEW WAREHOUSE RECEIPTS LAW IN SENATE – GATCHALIAN

A bill aiming to overhaul the country’s warehouse receipts system to help boost farmer’s productivity, introduced by Senator Win Gatchalian, has been sponsored by Senator Koko Pimentel, III, chairman of the Senate Committee on Trade, Commerce, and Industry. According to Gatchalian, he filed Senate Bill No. 2171, otherwise known as the Philippine Warehouse Receipts Act […]

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Politics

MOVE TO PROVIDE RICE FARMERS WITH P200M IN LOANS IS GOOD NEWS – PANGANIBAN

The chairman of the House of Representatives’ Committee on Agriculture and Food has welcomed the move by the Department of Agriculture (DA) to allocate P200 million in loan funds for rice farmers who will sell their produce to the National Food Authority (NFA). “This is good news for our farmers. Mahalaga itong nagbubuhos tayo ng […]

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Government

ELECTRIFICATION PROJECTS IN 2018 FUNDED THROUGH NEA LOAN FACILITY – MASONGSONG

Several electrification projects in 2018 ranging from installation of new substations, construction of distribution lines, to rehabilitation of mini-hydro power plants were financed through loans offered by state-run National Electrification Administration (NEA). Data from the NEA Accounts Management and Guarantee Department (AMGD) showed P2.084 billion worth of loans, including calamity loans, were extended to 62 […]