LAOAG CITY, Ilocos Norte, Aug 4 (PIA) — Forty-nine women have benefited from the Ilocos Norte’s provincial government loan program for businesses.
The loan program, also known as a livelihood program for women in business, is designed for business women in the province to provide for an additional income for women who have existing businesses.
Governor Imee Marcos handed out the P10,000-loan each to the business owners. Borrower’s businesses include hog-raising, craft-making, food service, electronic phone prepaid load and buy and sell.
Nelinda Erice of the Gender and Development (GAD) Office in Ilocos Norte, the P10,000 loan is an additional capital to boost their existing businesses. It is a requirement she said, that the beneficiaries should have an existing business to qualify for the program.
“The selection of beneficiaries was done by the members of GAD who went to different barangays to evaluate and had a background check on the identified beneficiaries micro-businesses,” said Erice.
Beneficiaries were fairly chosen from the different municipalities in the province such as Badoc, Pinili, Currimao, Paoay, San Nicolas, Nueva Era, Marcos, Banna, Piddig, Bacarra and even Batac City.
“The loan is payable in 10 months with a fixed five-percent interest or P500 payable at the end of the loan term,” added Erice.
This is the second batch of women who were able to avail for the said loan. The first wave of this program was held on March 20, 2012 which benefited 31 women-entrepreneurs form the different municipalities in the province.
The provincial government of Ilocos Norte is still offering the said program. To all interested applicants, requirement is to have an existing micro-business and must be a member of the Local Council for Women. They are encouraged to inquire at the Gender and Development Office located at the provincial capitol. (JCR/CJDG-PIA1 Ilocos Norte)