Quezon, Nueva Vizcaya—Twelve livelihood organizations supported by the FCF Minerals Corp. in this town have shown improvement on their loan collection system among their members.
These organizations are the Atan Vegetable Growers Association Bit-ang Women’s and Farmers Association Inc., Busat Upland Farmers Association Cabinuangan Highlander Association Inc., Baddang Kiphodan Association Sitio Compound Women’s and Farmers Association Inc., Dipilipig Development Association Inc., Sitio Dumaliguia Women’s Association Inc., Kinalabasa Rural Workers Association Inc., Malilibeg Livelihood Association Marangad Rural Workers Association Inc. and the Tayab Community Association.
Peter Storey, FCF Minerals general manager for operations, said the livelihood organizations were given capital assistance under their Community Development Program.
“We continue to help them control delinquency and loan productivity to ensure that loans are used according to the proposed businesses,” he said.
From Sept. 30, 2016, the associations’ total loan balance of P943,000 was down to just P551,000 as of Dec. 31, 2017.
The total repaid amount is P392,000 or 41.58 percent of the original balance.
Storey also said various capacity building activities were also given to the organization members and officials to strengthen them and inculcate their responsibility and obligation.
He added that the Pondong Pangkabuhayan Lending Program, a revitalized loan program sourced from the accumulated repaid livelihood funds from 2007 to 2015 and the existing funds of the organizations also showed improvement.
Storey said for the last quarter of 2017, the total loan disbursed is more than P467,000. Of the outstanding balance of more than P793,000, the amount overdue is more than P24,000 or 3.11 percent as to the due date.
As part of the PPLP discipline, succeeding loans are not being released once the association incurs unpaid amount.