Lim distributes capital assistance for small livelihood projects

Manila Mayor Alfredo S. Lim awarded 200 beneficiaries from the 6 Districts of Manila with a total of Php300, 000.00 Capital Assistance at Bulwagan Gat Antonio J. Villegas in Manila City Hall.

"Ang Lungsod ng Maynila ay tumutulong sa inyo ng walang interest. Pwede kayong magtayo ng kahit anong negosyo na inyong gustuhin. Kasabay nito ay ang aming pangaral sa inyo na palaguin ninyo ang perang ipinagkatiwala sa inyo ng siudad ng Maynila," Mayor Lim said.

"Kung OK ang business niyo at makakabayad na kayo ng utang, sa susunod na kayo ay umutang posible pa itong madoble hanggang Php. 3,000.00 to Php. 5,000.00, mabibigyan rin ng pagkakataon ang iba na makautang," Lim added.

The Capital Assistance Program provides soft loan of Php. 1,500.00 per beneficiary for the augmentation of existing income generating projects of beneficiaries or for starting off a small livelihood project.

The amount loaned is payable within a period of 10 weeks without interest, and through the Tulong Kapwa Scheme, the payment collected being rolled-on to other interested and qualified borrowers. Weekly payments are made every Monday at the respective District Welfare Office.

Beneficiaries are family recipients of the government's Livelihood Program who passed the means test and household profiling for livelihood assistance. Every qualified beneficiary is entitled to avail of the capital assistance ranging from a minimum initial amount of Php1,500.00 to a maximum loan amount of Php5,000.00, depending on the kind of livelihood project the beneficiary is putting up.

A possible re-loan for project expansion and growth can be availed by the beneficiary with good track records.

Manila Department of Social Welfare Chief Jay Dela Fuente assisted Mayor Lim in the distribution of the capital assistance. - manila.gov.ph — ARA