LINGAYEN, Pangasinan – Governor Amado Espino III has extended the provincial Livelihood Assistance Program's (LAP) zero-percent interest loan scheme and collection this year amid the continuing coronavirus disease 2019 (Covid-19) pandemic.
In an interview on Friday, Provincial Population, Cooperative, and Livelihood Development Officer (PPCLDO) Ellsworth Gonzales said a total of 144 groups, composed of 113 associations and 31 cooperatives, and 15 micro, small and medium enterprises (MSMEs) from the six districts of Pangasinan have benefited from the program last year.
“They have received a total of PHP28 million. The beneficiaries include individual entrepreneurs, MSMEs, start-up businesses, cooperatives, farmer and fisherfolk organizations, women groups, rural improvement clubs, and other community-based associations,” he said.
Gonzales added that the beneficiary-groups have a total of 5,256 members from all over the province.
Launched in 2008, LAP is now part of the Abig Pangasinan Program of the provincial government, a recovery program spearheaded by Espino, which aims to stimulate the local economy and reduce the number of families in Pangasinan who are living in poverty especially during this pandemic, according to the Provincial Information Office.
Gonzales said interested organizations and associations should complete the requirements to become beneficiaries of the program.
“They should be registered to the Cooperative Development Authority (CDA), Securities and Exchange Commission (SCE), or Department of Labor and Employment (DOLE). Bureau of Internal Revenue (BIR) registration should also be secured,” he said.
He added that they should have an existing business and market that generates income because the program is a supervised credit and the amount of credit allowed will depend on their business, projects, or income-generating project.
LAP, Gonzales said, has annual funding and an exclusive trust fund. (PNA)
