Issue of June 10, 2018
     
NEWS
Abra
Benguet
Mt. Province
 
OPINION
 

2018
Panagbenga Flower Festival
 
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Loan assistance for La Trinidad micro cooperatives pressed
by Primo Agatep / PNA

LA TRINIDAD, Benguet – Small or micro-scale cooperatives in this capital town have something to look forward to, as the municipal council is pushing for a loan assistance program for the sector.

The proposed ordinance, called “La Trinidad Cooperative Livelihood Loan Assistance Program,” is authored by Councilor Horacio Ramos Jr.

“The purpose of the ordinance is to assist small cooperatives, especially the micro-scale cooperatives, to help finance and sustain their livelihood programs,” Ramos said.

The proposed ordinance, which was approved on first reading, covers primary micro cooperatives in the town.

Micro-scale cooperatives are those with a net worth of P1.5 million and below.

Among the types of loan that could be availed of are productivity loan; agribusiness loan; small and medium enterprise loan; and industrial, commercial, and manufacturing loan.

The proposed measure requires that micro-scale cooperatives availing of the loan must be registered with the Cooperative Development Authority, accredited by the sangguniang bayan, and must operate in La Trinidad.

They must also be in operation for at least two years and in good standing with the La Trinidad Cooperative Development Council, among others.

Funds for the implementation of the ordinance shall be incorporated in the annual appropriation of the municipality under the support of the office of the municipal mayor, subject to the availability of funds.


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