P3 M loan assistance allotted to 117 fisher folks in Apayao

Apayao, Philippines – 117 fisher folks in this province have qualified to avail the P25, 000 individual loan assistance under the Expanded SURE-Aid and Recovery Project or SURE COVID-19.

Said assistance would help lessen their worries on where to get funding for their emergency and production capital requirement.

SURE COVID-19 program of the Department of Agriculture is a zero-interest, payable in 10 years and no collateral loan program for fisherfolks, farmers, and micro and small enterprises (MSEs) engaged in agriculture and fisheries food production, delivery products, and other supply chain activities.

According to Bureau of Fisheries and Aquatic Resources-Cordillera, the loan assistance provided to the fisherfolks in six municipalities in the province amounts to over P 3, 000, 000.

Beneficiaries include 52 individuals from Luna, 18 from Santa Marcela, 12 from Flora, 10 from Pudtol, 6 from Conner and 19 in Calanasan.

When getting the loan, BFAR-CAR said that service fee and documentary stamp will be deducted from the principal amount.

“The total net proceeds from loan will be credited to respective borrower’s LBP account after the signing of Memorandum of Agreement at the bureau’s provincial fisheries office here,” the agency’s report added.

In Kalinga, 53 fisherfolks in March have also availed of said loan assistance.

Qualified for the program are fisherfolks who are registered with the Fisherfolk Registration System or the Registry System for Basic Sectors in Agriculture, a non- 4Ps (Pantawid Pamilyang Pilipino Program) recipient, marginal or low-income fisherfolk, and has not availed other loan assistance from the Department of Agriculture.

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