“Puhunang Pangkaunlaran ng Sikap Buhay’’ (PPSB) – a livelihood oriented program of the Quezon City government through micro financing – continues to attract a large number of new members.
“Already there are strong indications this early that Sikap Buhay will be attracting more first-time borrowers this year compared to its drawing ability last year,’’ said Quezon City Mayor Feliciano Belmonte, Jr.
Quoting a report submitted by Ms. La Rainne Abad-Sarmiento, chief of Task Force Sikap Buhay (TFSB), Belmonte noted a big increase in applications for the program beneficiaries.
The PPSB, which had only 248 members when it was launched by Mayor Belmonte in April 2002, now has more than 15,000 members.
Most of the no-collateral loans for small entrepreneurs had been released by the PPSB through the Cooperative Rural Bank of Bulacan (CRBB).
Ms. Emma P. Mañebog, PPSB-CRBB desk head, said 464 new members received their loans through the cooperative bank in the first two months of this year.
Last year, a total of 2,533 new member-beneficiaries received their loans. (Sel A. Baysa)
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