TABUK CITY, Kalinga – Micro and small cooperatives can now avail of the loan assistance from the city government through the City Cooperatives and Enterprise Development Office (CCEDO).
With the Cooperative Assistance for Rural Enhancement (CARE) program, micro and small cooperatives may be granted with a loan amount of P100,000.00.
During the Koop Kapehan Program held in Brgy. Nambaran yesterday, City Cooperatives and Enterprise Development Officer Catherine Lee Uera explained that the CARE, just like any other loan programs, applies some conditions to ensure only deserving and needy cooperatives benefit.
Uera said interested micro and small cooperatives for the CARE should submit Certificate of Compliance (COC) for the last two years from the Cooperative Development Authority (CDA). Organizational structure and financial stability of the cooperatives will also be reviewed.
The CARE, which aims to augment the operating capital of micro and small cooperatives offers zero interest, and loan principal should be paid after a year or two, Uera added.
Currently, there are six applications being reviewed before assistance is awarded.
As a support to local cooperatives, City Mayor Darwin Estrañero encouraged micro and small cooperatives to avail of the loan assistance specially for cooperatives burdened by delinquency issues. By Darwin S. Serion