Ifugao coop starts lending services

By Vency D. Bulayungan

HINGYON, Ifugao -- The Piwong Multi-Purpose Cooperative is now lending money to fund different livelihood projects in this town.

Lito Baguiwa, executive assistant of the mayor said the loan is granted to permanent residents of the municipality.

At an interest rate of 12 percent per annum, individuals can avail of this loan with a maximum amount of P20,000 while credible organizations can avail a maximum of P50,000,” he said.

Baguiwa disclosed said money being loaned out is from the first tranche of the P1million accessed by Mayor Ramon Tinawi from the Office of the President for his administrative agenda called HOPE(Health, Peace and Order, Economics, Education and environment).

Adoracion Boclog, PMPCI general manager meanwhile said the project affords greater benefit to borrowers because of the low interest aside from increasing the lending capacity of the coop.