NEWS
Micro-lending project in auspicious start

LIVELIHOOD PROGRAM – CRANE president Dominador Alarkon, Jr. receives in this file photo from DTI Regional Director Jocelyn Blanco a check for P300,000.00 from the Priority Development Assistance Fund of Cong. Luis R. Villafuerte. Because of the efficient operation of the project under Ms. Wilma Recto Villegas as manager an additional P200,000.00 will be allocated by Congressman Villafuerte next month according to the CRANE president. Also in photo (from left) are CRANE officers Ms. Juanita Clement-Alarcon, Ms. Wilma Recto Villegas, Ms. Emma Borebor Boncacas, Ms. Gertrudis Galan, Irvin Ayo of Congressman Villafuerte’s office. DTI Provincial Director Edna Tejada, Danilo Sta. Isabel, Atty. Florencio Rosales, Sofronio Altez, DTI Accountant Elsa Felix and Romeo Borja

The CRANE micro-lending project which was formally launched only in August this year is off to an auspicious start with 16 officers and members availing of small loans for their livelihood undertakings ranging from P10,000 to P25,000.

CRANE Director Sofronio Altez, the Income Generating Committee chairman, said that Ms. Wilma Recto Villegas, IGC manager, has reported a 100% repayment rate and has in fact granted additional loans from the interest of the first batch loans.

With the encouraging results, the CRANE president Dominador C. Alarkon, Jr. said he requested Cong. Luis R. Villafuerte for P200,000.00 as additional capital assistance to be able to expand the micro-lending project to benefit more organization members.

Only bonafide members of good standing may avail of the loan privilege the proceeds for which shall be used only for verifiable livelihood undertakings. Some of those who availed of the initial loans have existing sari-sari stores, backyard projects or are engaged in buy –and- sell business.

Altez emphasized that no loan could be granted to pay hospital bills or other emergency needs. However, CRANE members who may be confined at the Bicol Medical Center may be granted assistance by CRANE through the Priority Development Assistance Fund of Congessman Villafuerte. The solon has allocated P100,000 from his PDAF for CRANE members who may be confined at BMC.

Congressman Villafuerte earlier already allocated P300,000 for the CRANE micro-lending project which was released through the Department of Trade and Industry (DTI) here in Bicol Region and in Camarines Sur on July 25, 2006.

With addtional fund, the project would have P500,000.00 as total capital.

Aside from Altez and Villegas, the Income Generating Committee is made up of Atty. Renato Enciso, Ms. Gertrudis Teoxon-Galan, Danilo Sta. Isabel and Raul Ruiz. CRANE vice president Emma Borebor Boncacas who is concurrently chair of the Membership Committee attests to the status of the member before any loan application is proceed.

A member of good standing is one who has paid the membership fee of only P50 and the annual fee of P100 and who has attended CRANE meetings and participated in CRANE activities and has not violated CRANE rules and ethical standards.