City pursues grant of SEA loans PDF Print E-mail
Friday, 23 December 2011 15:00

Forty-one indigent families coming from various barangays compose the latest batch of recipients of the city government’s Self-Employment Assistance or SEA loan, a funding assistance to help poor families sustain small business ventures.

Mayor Celso Lobregat distributed the checks ranging from P3,000 to P5,000 per beneficiary as a sidelight during the inauguration and turnover of the P10.6 million City Social Welfare and Development Office building in Pettit Barracks, December 19.

Of the total number of beneficiaries, 17 received a check of P3,000 each while 24 beneficiaries received a check of P5,000 each for a total of P171,000.

The beneficiaries were identified by the CSWDO under Francisco Barredo and have agreed through a contract to pay the back the amount to the city government in various instalments with no interest. The payment policy will pave the way for other deserving families to also avail of the loans.

The SEA program is an on-going project of the city government aimed to alleviate the plight of families living below the poverty line.

The amount will be used to subsidize small business ventures such as sari-sari (variety) store, fish vending, buy and sell of vegetables, palay, fish and charcoal and other income generating activities.

The beneficiaries of the program are assessed and monitored by Barredo’s field personnel. They come from the different barangays of the city.

The payment of the loans will cover a period of 10-12 months. The roll back or payment of the loans will be used as revolving fund for other interested and qualified beneficiaries. 

Lobregat said beneficiaries of the program need to pay their obligations in order to allow other equally deserving families to avail of the program.

The city government is extending all assistance to the residents in a bid to help alleviate the situation of the poor and marginalized sector.

For 2011, over a hundred families benefitted from the annual loan-providing opportunities that aimed to provide financial augmentation to families with existing small-scale business.

Assisting the mayor during the distribution Monday afternoon were Barredo, CSWDO Staff Uldarico Fabian and personnel from the City Treasurer’s Office. — Sheila Covarrubias