Hedcor backs microfinance Tuba coop enterprise loan

TUBA, Benguet -- For the third time around, Thanksgiving Cooperative in Camp 6, Kennon Road here, obtained a P720, 000 loan from its partner in development, Hedcor, Inc. and Aboitiz Foundation.

“Our cooperative members are able to support their hog raising project and gain profit for their families,” says Emma Golocan, the manager of the cooperative. She said their partnership with Hedcor was very productive ever since they started loaning in 2011 with half million pesos. In the succeeding years, they were again granted P600, 000.

Aside from the loan, the cooperative engages in seminars and trainings on livelihood development conducted by Hedcor.

 “Our officers are continuously participating in the free trainings initiated by Hedcor. The trainings serve a great purpose for the development of our cooperative and of course big savings on our part,” the manager added.

Founded in August 1991 with an initial capital of P36, 000 and 22 members, Thanksgiving reached a total asset of almost 38 million pesos and 480 members.

Romeo Catingub, the community relations officer of Hedcor said that the company is willing to help cooperatives to step up their operation through microfinance.

Several cooperatives have been the recipients of the Hedcor’s microfinance program.

Last year, Lamut Multipurpose cooperative received a P900,000 grant for their cut-flower business. Other cooperatives that have benefitted from the program are Sal-angan-BangetMulti Purpose Cooperative in Itogon and Barangay Alapang Multi-Purpose Cooperative (BALMUCO) in La Trinidad.

Having 11 run-of-river hydropower plants in Benguet, Hedcor pursues to back the development of the province through its various programs. Hedcor had been a partner of development to the province for 35 years now.

With its various corporate social responsibility programs on education, health, livelihood and environment, Hedcor gives back to its host communities. Livelihood projects are being implemented as one of the core areas of development by the company. By grainting loans to cooperatives Hedcor aims to back the furtherance of livelihood programs.