Palawan province to grant loans to two cooperatives

(Photo from Internet)

PUERTO PRINCESA CITY—In a bid to further strengthen “cooperativism” in Palawan, the provincial government is set to award financial support to two more cooperatives under the loan assistance program that is implemented by the Provincial Cooperative Development Office.

PCDO Officer Victoria Ladica said Saturday the San Vicente Employees Multi-Purpose Cooperative and the Coron School of Fisheries Multi-Purpose Cooperative will be awarded loan assistance on May 31 through the Livelihood Credit Assistance Program of the provincial government, headed by Palawan Gov. Jose Alvarez.

The SVEMPC will be awarded P100,000 to expand its consumer’s store and lending program.

The CSFMPC, on the other hand, will receive a loan assistance of P500,000, through the Sulong or Sustained Livelihood Opportunities and Growth program.

The said cooperative will use the loan assistance to enlarge the operation of its canteen and its consumer store.

Ladica said that at present, two more cooperatives that are undergoing the PCDO’s validation for loan application also stand to receive loan grants still under LICAP.

These are Butil Multi-Purpose Cooperative in the northern town of Taytay and the San Vicente Market Vendors Multi-Purpose Cooperative.

The loan grants shall be returned by the cooperatives to the provincial government with no interest.

Read more: http://thestandard.com.ph/news/-provinces/206847/palawan-province-to-grant-loans-to-two-cooperatives.html