P4.2 billion loan to finance P’sinan projects

  Development News

Gabriel L. Cardinoza 

Gov Ramon  Guico 3rd recently signed a P4.2-billion sub-loan agreement with the Land Bank of the Philippines (LandBank) to finance various provincial government projects designed to upgrade health care and other government services in Pangasinan.

    The signing ceremony, which was held at the LandBank main office in Manila last week, was witnessed by Pangasinan and LandBank officials.
    “We appreciate your coming all the way here in Manila to seal this sub-loan agreement,” said Lynette Ortiz, LandBank president and chief executive officer, welcoming Guico and other provincial government officials.
    The approved loan is a component of the P6-billion omnibus term loan facility that the provincial government and LandBank signed in February after the provincial board authorized the governor to sign and enter into the loan agreement.
    About P1.8 billion will be used to construct an 11-story government center in Lingayen town. The rest of the amount will be for the acquisition of hospital equipment, the construction of an eight-story corporate tower and redevelopment of the capitol complex in Lingayen, and the acquisition of support facilities for the establishment of an airport in Bolinao.
    The hospital equipment, consisting of ultrasound and X-ray machines, CT (computed tomography) scans, and an MRI (magnetic resonance imaging) machine, will be installed in the hospitals run by the provincial government.
The province operates six district hospitals, seven community hospitals and a provincial hospital in San Carlos City.
    “We are pleased that most of your priority projects are now set to take off. We wish you all the very best,” said Ortiz.
    Guico said that in signing the loan agreement, he was debunking the perception that a local chief executive who incurs loans is not faring well in running the local government unit’s affairs.
    “That’s not true,” Guico said in his message after signing the loan agreement.
“    If you want to fast-track growth, you have to have financing. What you can do in nine years, three terms of politicians like us, I think you can do it in one term, provided that you avail of financing,” he added.
    But he said that the projects should create a good impact on the constituents and the LGU so as not to waste the funds used to finance them.
    Guico said that when he assumed office in 2022, he immediately strengthened the corporate function of the provincial government, which, he said, has not been given much attention.
    To realize this, he added, the provincial government has been establishing businesses for the province and exploring avenues where it can increase its revenues.
    “So, if you notice, we are rolling out and implementing big projects that we think will boost the economy and improve the lives of our people,” Guico said.
    “We’re now investing for the near future of Pangasinan. We can reap the rewards within five years times if we play it right and if there are more partners like you to finance us.”
    Ortiz said that as the provincial government’s long-time development partner, LandBank has remained committed to supporting the province’s transformative journey toward a more inclusive and sustainable local economy through its wide array of support services.
    “And we ensure safeguarding the provincial government’s deposits with the LandBank, along with other LGUs. You are in a very safe and stable bank, Governor. We assure you of that,” said Ortiz.
She also thanked Guico and the provincial government for “your unwavering trust and patronage.”
“    Let us continue to advance inclusive and sustainable development towards building a more prosperous and thriving community for the Pangasinense,” said Ortiz.
 
 

Read more...

397 small biz firms get SBC no interest loans worth millions

BAGUIO CITY -- The Small Business Corporation (SBC) reported that some three hundred ninety seven micro and small businesses in the city were able to avail of zero interest loans under the Baguio’s Revitalization Action for a Vibrant Economy – Economic Stimulus Package (BRAVE-ESP) from 2020 up to July 20, 2023.
    In her report during the quarterly meeting of the Baguio city Small and Medium Enterprise development Council held at the conference room of the Department of Trade and Industry (DTI) Baguio-Benguet Provincial Office recently, SBC representative Julie Ann Castaneda said that of the total approved loan applications that were endorsed to the City Treasury Office for the release of their applied loans, 324 were micro enterprises while 73 were small businesses.
    The SBC official claimed that the approved amount of loans that were released to applicants amount to around P20.5 million chargeable against the funds that were earlier earmarked by the local government under the BRAVE-ESP.
    Earlier, the SBC received some 528 applications for loan under the said program where 131 applications were either denied or withdrawn.
    The SBC is the financial arm of the DTI that is providing soft loans to various businesses that want to avail of the same to be able to sustain the operations of their enterprises.

She explained that among the reasons for the denial of the loan application of businesses include their alleged failure to produce documents of their businesses, the negative findings of the credit investigation and their inability to show the sustainability of their businesses under their financial statements.

Castaneda added that there are three processes being conducted by the SBC prior to the approval of the loan applications such as the business information assessment, credit standing assessment and financial performance assessment to ascertain the sustainability of the businesses availing of the loans offered to interested businesses.

One of the major reasons for the denial of the loan applications of businesses is that they pass through third parties which are not actually allowed under the SBC’s rules and regulations. -- Dexter A. See

Read more...

SSS told: Grant loans to Baguio market fire victims

BAGUIO CITY officials urged the Social Security System (SSS) to grant affordable loans to its members affected by fire that recently gutted Blocks 3 and 4 of the city public market.
    Under resolution 183, series of 2023, local legislators stated that while the local government is working hard to provide assistance and help in the aftermath of the market fire incident turned tragedy, and at the same time doing recovery and relocation operations for the displaced vendors, the help and collaboration of other government and private agencies like financial institutions are undeniably needed in situations like the said fire incident.
    Earlier, issueswere raised by Stakeholders on how to address post-fire incident recovery at the city public market following the 5-hour fire that gutted Blocks 3 and 4 that caused the displacement of some 1,700 vendors regularly doing business in the said city facilities.
    Many affected vendors who incurred losses and debts are currently facing financial crisis brought about by the fire and that they are desperately in need of financial capital to continue their established source of income to sustain the living condition of their families.
    The council noted the SSS administers social security protection to its members and beneficiaries against the hazards of disability, sickness, maternity, old age, death and other contingencies resulting in loss of income or financial burden.
    On the other hand, the council also passed Resolution No. 182 strongly urging loans and financing institutions to defer payment of loans without incurring additional interest for those affected by the structural fire at the city public market last March 11 and 12, 2023.
    The body said deferment of loan payments without incurring additional interests will ease financial burden of affected stall owners and give them time to recover and rebuild their businesses.
    According to the council, many vendors affected by the fire have allegedly taken out loans to finance their businesses and are currently facing the challenge of repaying the said loans amidst the heavy losses and damages caused by the fire to their established source of livelihood which is vending in the city market.
    The council said the Covid-19 pandemic also affected the financial situation of the fire-displaced stall owners making it more difficult for them to meet their financial obligations.
    The local government expressed its solidarity with the affected stall owners and it is committed to ensuring support and help for them to recover from the tragedy. --Dexter A. See

Read more...

Pangasinan prov’l board okays P6-B loan for projs

By Liwayway Yparraguirre 

LINGAYEN, Pangasinan – The Sangguniang Panlalawigan or provincial board of Pangasinan has given authority to Gov. Ramon Guico III to obtain a P6-billion loan from the Landbank of the Philippines under the terms and conditions of the Omunibus Term Loan Facility (Credit Line) to finance strategic programs and projects of the province.
    Based on Resolution 825 authored by board member Vici Ventanilla and co-authored by vice governor Mark Lambino, the loan will be used to finance programs or projects for transportation amounting to P1.45 billion; government centers worth P800 million; tourism worth P1.95 billion; education through the establishment of the Pangasinan Polytechnic College/University worth P400 million; and health worth P1.4 billion, among others.
    "With the vision to propel socio-economic growth through infrastructure development, the provincial government of Pangasinan aims to ensure the delivery of basic services and the provision of adequate facilities not only to the people living in the urban area but also in the countryside," the resolution read.

Provincial accountant Marlon Operaña of the Local Finance Committee, in an interview on Tuesday, said the provincial government has the capacity to undertake such amount of loan.

"[The] source of fund to repay the loan shall be the National Tax Allocation (formerly known as the Internal Revenue Allotment). If we try to revisit the provision of the Local Government Code of 1991, it states that a local government unit is allowed to enter into a credit facility as long as the amortization for such credit facility shall not exceed 20 percent of the Internal Revenue Allotment," he said.

Lambino, in a separate interview, said the loan is not yet a full loan but a standby fund that will be cascaded to the provincial government as soon as all the necessary legal and documentary requirements of Landbank are met.

"Ito yong pagkakataon na tayo (provincial government) ay inaprubahan ng isang financial institution na magkaroon ng standby fund na ganito kalaki. Ibig sabihin, nagtitiwala sila sa financial management ng ating probinsya para aprubahan ang ganyang kalaki ng standby fund (This is an opportunity wherein the provincial government was approved by an institution to have a standby fund with a huge amount. That means they trust the financial management of our province if they approved a huge amount of standby fund)," Lambino said. -- PNA

Read more...

Aggie loans for Ilocos Norte OSYs launched

By Freddie Lazaro

LAOAG CITY, Ilocos Norte – Out-of-school youths (OSYs) in Ilocos Norte can now avail of agricultural loans following the launching last week by the Department of Agriculture-Agricultural Credit Policy Council (DA-ACPC) of its credit and financing facility in the province.
    DA Region 1 OIC Regional Executive Director Annie Bares said the program aims to encourage more young people to invest in the agriculture sector.
    Through the ACPC credit facility, interested OSYs who are willing to undertake a livestock-raising business will be able to loan up to P200,000 to finance three cattle fatteners.
    To ensure project sustainability, the OSY borrowers are required to undergo training in cattle-raising.
    DA Senior Undersecretary Domingo Panganiban, who led the launching of the program, said the government recognizes and understands the critical role of the youth in the country’s agricultural and fisheries development.
    Panganiban said the new ACPC program, in addition to the DA’s Young Farmers Challenge, will encourage more young people to invest in the agriculture sector.

Read more...

P250-K to P1-M DOLE loans set for poor sectors

By Kristine Sibayan

BAGUIO CITY -- Displaced transport and marginalized workers in this summer capital were oriented on job opportunities they can venture in and new strategies that will enable their businesses or livelihood to thrive under the new normal wherein they could also get loans from government worth P250,000 to P1 million.
    The Sangguniang Panlungsod, through the office of Councilor Philian Weygan-Allan, conducted a seminar-workshop wherein the Dept. of Labor and Employment Cordillera Administrative Region was invited to present programs for the displaced workers.
    The DOLE provides assistance to marginalized and vulnerable working sector and generate jobs for poor Filipinos.
    Clarissa Lyca Vizcarra, DOLE Tulong panghanapbuhay sa ating disadvantaged/displaced workers (TUPAD) and livelihood officer presented the DOLE livelihood integrated program.
    This program offers a start-up capital for capacity building for the livelihood of the working poor, vulnerable and marginalized workers, either individually or by group.
    This includes livelihood projects for the following groups: micro livelihood of 15-25 workers (up to P250, 000), small livelihood of 26-50 workers (up to P500, 000) and medium livelihood of more than 50 workers can avail up to P1,000,000 of assistance from the department worth of equipment, materials and tools.
    This assistance does not require fees to be paid after the business profits.
    Vizcarra said the grant does not involve monetary assistance, but the department offers materials and equipment needed to run a business.
    The DOLE officer urged participants to be innovative especially in this pandemic.
    Pointers were likewise given on how to create an effective project proposal and/or business plan.
    This is a requirement when seeking assistance from the DOLE. Majority of those who have tried to apply for the grant did not know how to create a business proposal, she said.
    The transport groups were advised to register with the DOLE before they can submit their business proposal.
    The business proposals they made during the workshop may be adopted and submitted to the DOLE-CAR for consideration.
    For more information about the grant, visit the official website of DOLE Baguio Benguet: https://bwsc.dole.gov.ph/programs-and-projects-submenu1/dileep.html -
 

Read more...

Loans available at new Bontoc Pag-Ibig office

By Alpine Killa- Malwagay

BONTOC, Mountain Province –Bringing its services closer to its clients, the Pag-IBIG Fund installed its satellite office here at the 3rd Floor of the Bontoc Municipal Capitol.
    Bontoc Mayor Franklin Odsey approved the request of the Pag-IBIG Fund to be provided space free of charge at the Capitol since it now has personnel who will report to its satellite office from Mondays to Fridays to accept and process loans and provide services to members.
    Mervin Pereda, Pag-IBIG Fund Area head of Ilocos Region (Dagupan, Urdaneta, La Union, Vigan, and Ilocos Norte) and Baguio–Branches, along with branch head Corina Joyce Balanon-Calaguin of Pag-IBIG Fund Baguio-Branch met with Mayor Odsey on March 15 at the Mayor’s Office to express gratitude for the latter’s positive response to their request.
    Pereda said the Pag-IBIG Fund office will cater to members of all municipalities of Mountain Province and neighboring provinces.
    Odsey said allowing the office at the Capitol was one way the Bontoc local government could be of help.
    “The public or Pag-IBIG Fund members would be spared from the hassle going through rigors of traveling and queuing at the Pag-IBIG Fund- Baguio Branch. The presence of a satellite office in Bontoc will lessen the financial burden and time of members traveling to Baguio City to process their documents and avail of the services of Pag-IBIG Fund. We cannot put a price on comfort and convenience," the mayor added.
    Meanwhile, Calaguin said while they were in Bontoc, Mountain Province, they accepted loan applications from members until March 16 and brought with them the submitted application forms to Pag-IBIG-  Baguio Branch.
    Loan application forms are available at the Pag-IBIG Fund Satellite Office, 3rd Floor of the Bontoc Municipal Capitol, or can be downloaded through the internet.
    Among services offered by Pag-IBIG are membership and savings programs, regular savings, housing loan, home equity appreciation loan (HEAL), short-term, multi-purpose, calamity loans and savings claim (regular & MP2 savings).
 

Read more...

SSS sets penalty condonation for short-term member loans

By Christian Andrew Rillorta

Member-borrowers with past due short-term loans may apply for the Social Security System’s (SSS) Penalty Condonation Program via online using their My.SSS accounts starting Nov. 15, 2021 up to Feb. 14, 2022.
    SSS president and chief executive officer Aurora C. Ignacio said that the Short-term Member Loan Penalty Condonation Program (STMLPCP) is part of the Pandemic Relief and Restructuring Programs (PRRP 5) being offered by SSS.
    “Our heart goes to our members who were greatly affected during this pandemic and yet they try their best to get back on their feet. SSS is always here to extend not only in a form of cash benefits and loan privileges but also conditional condonation which provides financial relief by waiving their accumulated penalties once their loan principal and interest are fully paid.” Ignacio said.
    Included in the program are those with outstanding Salary, Calamity, Salary Loan Early Renewal Program (SLERP), Emergency Loans and Restructured Loan under the Loan Restructuring Program (LRP) implemented in 2016 to 2019.
Qualified applicants are as follows:
    Members with short term member loans that are past due for at least six  months as of the first day of the condonation availment period;
    Members who have not been granted any final benefit such as permanent total disability or retirement;
    Members who have not been disqualified due to fraud committed against the SSS;
    Members who will file their final benefits application for permanent total disability or retirement, whose contingency date is on or before the last day of the availment period of the condonation program; and
    Heirs or beneficiaries of deceased member borrowers who will file the death benefit application, whose contingency date is on or before the last day of the availment period of the condonation program.
    For member-borrowers who will pay their consolidated loan under instalment basis, their age must be under 65 years old at the end of the instalment term.
    Under the STMLPCP, the total amount of the outstanding principal and interest of the member’s past due loans shall be consolidated and settled through the following arrangements:
    One-time full payment, in a single payment transaction, within 30 calendar days from the receipt of notice of approval of the STML Penalty Condonation Application.
    Installment term - member should pay the 50 percent of the consolidated loan in full, in a single payment transaction, within 30 calendar days from the receipt of the notice of approval of the STML Penalty Condonation Application. Meanwhile, the remaining 50 percent of the consolidated loan will become Restructured Loan 1 (RL1) and shall be paid in six equal monthly installments starting from the month following the end of the 30-calendar day period.
    “Please do take note that no staggered/partial payment shall be allowed for the consolidated loan under one-time payment or 50% down payment under installment term even if the required payment is completed within the 30-day period,” Ignacio said.
    For member-borrowers who are 65 years old or older who will choose not to file their final benefit claim within the availment period, they may only avail the one-time payment. Whereas, member-borrowers and heirs or beneficiaries of deceased members whose contingency date is on or before the last day of the availment period should file their benefit claim within the availment period of the penalty condonation program and shall only be allowed to avail of the one-time payment scheme through deduction from the benefit proceeds.
    Applicants except the final benefit filers shall pay their consolidated loan using the SSS-issued Payment Reference Number (PRN) with the amount and due date for each required payment.
    RL1 has an annual interest rate of three percent computed on a decreasing principal balance over the six-month payment term. Every unpaid/late payment shall be charged a one percent penalty per month.
    Other terms and conditions under the loan penalty condonation can be viewed in SSS Circular 2021-014 which can be accessed through this link https://bit.ly/3GEzwhf.
    For accurate information and updates on SSS programs and benefits, visit and follow SSS on Facebook and YouTube at “Philippine Social Security System,” Instagram at “mysssph,” Twitter at “PHLSSS,” join its Viber Community at “MYSSSPH Updates,” or visit the uSSSapTayo Portal at https://crms.sss.gov.ph/.
 
 
 

Read more...

Baguio council sets P200- K loan for each entrep

By Jordan Habbiling

BAGUIO CITY -- The City Council approved amended guidelines of 2020 Baguio’s Revitalization Actions for a Vibrant Economy – Economic Stimulus Package (BRAVE-ESP) increasing  loans for entrepreneurs.
    The old guidelines set a limit of P50,000 as the maximum loanable amount for micro enterprises and P100,000,00 for small enterprises.
    Under the amended guidelines, SMEs can now loan up to P200,000 for both micro and small enterprises.
    Also, start-up businesses can now loan through BRAVE-ESP with a maximum amount of P50,000. This is a newly added component of the program.
    Enterprises who have availed of similar packages from other government institutions are now eligible for BRAVE-ESP. The applicants will be assessed based on their capacity to pay.
    The interest rate still remains at zero percent, but a six-percent service fee shall apply to be deducted immediately from the borrowers’ approved loan.

    For loans P50,000.00 and below, the repayment shall be for a minimum of six months up to a maximum of 12 months, exclusive of grace period.

    For loans above P50,000 the repayment shall be for a minimum of six months to 30 months, exclusive of grace period. All borrowers shall be given a grace period of six months.

    In July 2020, the city government entered into a partnership with Small Business Corporation (SBC) for the implementation of BRAVE-ESP.

    BRAVE-ESP is a financing facility which was created to mitigate the impact of the COVID-19 pandemic on business operations in the city. All SMEs affected by the community quarantine may avail of this stimulus package in order to recoup their losses.

    As recommended by SBC and the Local Finance Committee, Mayor Benjamin Magalong proposed the amendment of some terms of the guidelines to be able to encourage more business people in the city to avail of the loan package and to make the program “more responsive to the needs of the target beneficiaries.”

    This came after the City Treasury Office reported that, as of July 19, 2021, only 213 applications were approved totaling P8,767,000 of the total amount of P31,751,120.84 which is available for lending.

Read more...

Paracelis P320-M LBP loan hit; projects start

By Roger Sacyaten

PARACELIS, Mountain Province – A P320 million controversial loan from Landbank for a water project among others in this remote town is still being assailed by town folks and netizens.
    But the mayor here insisted the fund will make life easier for residents and boost the economy.
    “We believe the Paracelis water system project, to be called Kakarefin Water,” will entice business investment, and tourism too, as we hopefully make Paracelis a first class municipality,”
    Mayor Marcos Ayangwa said this despite detractors who questioned the financial viability of the municipal government in paying the loan. 
    The water project was launched last April 20 at the source in Sitio Tollang, in Addang, Barangay Bunot, around 11 km to the center at Poblacion.
    The project cost of P80 million would be sufficient to bring potable water to Poblacion and Barangay Bantay, the initial beneficiaries, according to Ma. Evangeline Mellano, consultant hired by the local government unit to oversee implementation of the waterworks project.
    It was learned around 4,000 household connections in the two barangays will benefit from this project.
It will be metered to control water wastage and be an income generating venture managed by the local government.
    The expected output from the source is 800 liters per second, good enough to supply the two barangays that need only 40 liters per second.
    “So, this will be the water source for other barangays. We will share water to the other barangays in the future,” said Mellano.
    Reservoir water tanks will be installed in strategic areas along the route of the system that can be the connections to other barangays.
    The project fund used for the waterworks project is part of loan financed by Land Bank worth P320 Million.
    The Sangguniang Bayan granted authority to Ayangwa on March 2, 2020 to enter into loan agreement with Land Bank.
    Allocations for the P320 million follows: P80 million for the Kakarefin water project; P80 million for the multi-purpose building or the new municipal hall, P10 million for engineered sanitary landfill, P10 million for central terminal, P30 million for purchase of equipment for the sanitary landfill, P25 million for new health centers; and P85 million for counterparts to PRDP projects known as farm to market roads.
    SB resolution 2020-010 granted authority for the whole amount but  Ayangwa said the repayment scheme will be through progressive billing which means that interests would depend on the withdrawn amount and as the projects are implemented not at one time.
    “With the Internal Revenue Allotment (IRA) at roughly P240 million, we are capable to pay the loan in 15 years”, said Ayangwa.
    “We have conducted earlier consultations with stakeholders and there was no opposition. Perhaps the oppositors have to be zealous on monitoring the implementations. This project is the most basic of our projects as water is life. We ask for your support to this crucial project. By Christmas time we hope to deliver tap water to your faucets,” Ayangwa said.   

Read more...

SSS sets online checkless cashouts

The Social Security System (SSS) on Monday said that mandatory online transaction and checkless disbursements are now being implemented to provide members, employers, pensioners, and beneficiaries/claimants with faster, safer, more convenient, and economical means to register, submit their loan and benefit applications, and receive their loan proceeds and cash benefits from SSS.
    “Aside from our full compliance with the requirements of Ease in Doing Business and Efficient Government Services Delivery Act of 2018 or Republic Act No. 11032, SSS continues its digitalization efforts through expansion and enhancement of our online service facilities for the benefit of the transacting public. It is also our way of supporting our healthcare workers in preventing the spread of COVID-19 since face-to-face interactions shall be limited within our branches,” SSS President and CEO Aurora C. Ignacio said.
    Mandatory online transactions include filing of salary and calamity loans, Sickness Benefit Reimbursement Application (SBRA) for employers, application of Social Security (SS) Number, Employment Report (R1A), submission of sickness and maternity notification as well as filing of unemployment, retirement, and funeral benefit claims with e-disbursement.
    To proceed with online transactions, members, employers, and pensioners must have their own My.SSS account. Upon successful SSS registration, they must also register their disbursement account through the Disbursement Account Enrollment Module (DAEM) for the disbursement of their loan and benefits. For online users who opt to receive their benefits via e-wallet or remittance transfer companies (RTCs)/cash pick-up outlets (CPOs), their mobile numbers should also be enrolled in Bank Enrolment Module (BEM) in their My.SSS accounts.
    However, members must take note that there are prerequisites in submitting their retirement and funeral benefit applications online.
    “Claimants should have an issued SS number and Unified Multipurpose Identification (UMID) Card or have already applied for a UMID Card to submit their funeral benefit claim online. Meanwhile, non-SSS member-claimants should provide a copy of their ATM card deposit slip if the disbursement account is a PESONet participating bank, or their mobile number if their preferred disbursement is thru E-wallet via upgraded PayMaya or cash remittance via MLhuiller,” Ignacio explained.
    “Retiree-applicants can submit their retirement claim applications online if their SS number is not canceled; not an underground/surface mineworker or a racehorse jockey; not a self-employed member below 65 years old; has no outstanding balances in Stock Investment Loan, Privatization Loan, Educational Loan, and Vocational Technology Loan; and with no dependent minor child/ren. Members who do not meet these qualifying conditions are advised to set an appointment with the nearest SSS branch,” added Ignacio.
    In line with the mandatory online registration, the pension fund also starts the mandatory checkless disbursement of unemployment benefit, funeral benefit through their UMID Card enrolled as ATM Card/UnionBank Quick Card/PESO-Net participating bank/E-wallet/RTC/CPO. Meanwhile, salary and calamity loans shall be disbursed through PESONet participating banks only.
    For further queries, members may call the SSS hotline at 1455. They may also follow the official Facebook page, “Philippine Social Security System,” Instagram Account “Mysssph,” or Twitter Feed “PHLSSS.” They may also log in to their My.SSS account for online services verification/queries.
 

Read more...

Sagada folks press public hearing on LGU’s P150-M loan

By Gina Dizon

SAGADA, Mountain Province -- Netizens here urged public hearings on the P150 million loan application of the local government with Land Bank.
    The loan was supposed to be used for construction of a five-storey municipal government building worth P75 million and P75 million for purchase of a 30-hectare lot for a total of P150 million loan from Land Bank by Sagada local government.
    The Sangguniang Bayan in resolution dated July 27, 2020 authorized Sagada Mayor James Pooten Jr. to enter into a P150 million loan from Land Bank in pursuance of the LGU’s government and proprietary operations.
    Said resolution also authorized the mayor to enter into a deed of sale or any mode of ownership transfer of a 30-hectare tax-declared private lot  at Sitio Kanipawan.
    The Sagada Reports facebook group called for consultations with affected land owners of  Kanip-aw  on securing  securing a clean title before any sale, purchase or development is done by the LGU.
    Affected lot owners have been checking on their lots at Kanip-aw since survey of the projected lot for sale had been undertaken.
    The group also urged public consultations on development projects planned at Kanip-aw like an eco-park, recreation center and a vegetable processing facility.
    Said lot will be used to accommodate government programs including agricultural demo farm, animal breeding and production areas, materials recovery facility, sanitary land fill, nursery and housing.
    The LGU here has limited space located in the middle of the town that locates a municipal town hall, an old munisipyo, market building and offices on the top floor, police station and rural health clinic.
    A subsequent resolution from the SB recommended development features namely construction of a water system, road access, helipad, legislative building, youth center, centralized terminal center, motor pool, sports complex, cultural center, materials recovery facility and livelihood training center on proposed lot for purchase.
Netizens asked how the P150 million loan would be paid  
    Others called for a water system as more of a priority.
    Sagada currently has clustered water systems where each water spring caters to at least 5 to 20 households who alternately make use of the water.
    While waters are abundant during the rainy season, waters are a scarce during summer beginning January till rains start again by May.
    The LGU entered into a P36 million domestic and irrigation waterworks project  with the Cordillera Highland Agricultural Resource Management  Project (CHARMP)  in 2012 with P18 million fund from then Senator Teofisto Guingona and an additional P18 million from CHARMP.
    The waterworks remained non-serviceable with no waters having reached Sagada’s main town since then.
    While this was so, the Sangguniang Bayan  adapted a resolution "Adapting the NCIP national advisory 001--08-2020  to stop, prohibit and report any transaction, dealing, negotiation of selling and transfer of lands within the ancestral domains of Sagada.”

Read more...

SSS expands, loan, money channels

By Christian Andrew Rillorta

The Social Security System (SSS) renewed its partnership with the Development Bank of the Philippines (DBP) to expand its benefit and short-term loan disbursement channels.

Through the said partnership, SSS-qualified employers, members, and pensioners may now receive benefits and short-term loan proceeds through the Philippine Electronic Fund Transfer System and Operations Network (PESONet) participating banks.

Qualified members and pensioners may now also receive SSS benefits through e-wallets such as PayMaya or cash pick-up arrangement via DBP Cash Padala Thru M Lhuillier, a Remittance Transfer Company/Cash Payout Outlet.

SSS president and CEO Aurora C. Ignacio said the enhanced disbursement process is already implemented for Unemployment, Funeral, Sickness, and Maternity Benefits, and Salary, Calamity, and Emergency loans, however, the said short-term loans might only be disbursed thru PESONet participating banks.

Starting in October 2020, monthly pensions will also be released through the said method.

"With our strengthened partnership with DBP on PESONet disbursements, we are hoping to expedite the releases of benefits and short-term loans. Upon its full implementation, eliminate disbursements via checks," Ignacio said.

             The SSS urges qualified payees and member-borrowers to enroll their disbursement accounts through the Bank Enrollment Module (BEM) found under the E-services tab of their respective My.SSS accounts on the SSS website (www.sss.gov.ph).

Qualified payees and member-borrowers must select their preferred PESONet participating bank, e-wallet, or RTC/CPO and supply a valid and active bank account number, or mobile number for an e-wallet or RTC/CPO.

Bank account numbers must be entered as a continuous string of numbers, while mobile numbers must be in its 11-digit format that starts with 09. Qualified payees and member-borrowers are reminded to ensure the correctness of their disbursement account information in the BEM before enrolling them.

"We are continuously transforming our services into digital processes for our members and the public to transact with us without having to go to our branches. Aside from its convenience, this also serves as a safety measure given the current pandemic situation," Ignacio said.

The SSS has also implemented the mandatory online submission via the My.SSS portal of Maternity Notification and Sickness Notification (for employers); and filing of applications for Unemployment Benefit, Funeral Benefit of SSS-member claimants, Sickness Benefit Reimbursement Claims of employers, Salary Loans, and Calamity Loans.

The online filing of Retirement Benefit applications through the said portal is also required for all members who are at least 65 years old, and for land-based OFWs and voluntary members who are 60 to 64 years old, upon the filing of retirement claim.

For further information, members and employers may call the SSS' hotline at 1455 and follow the SSS Facebook page at Philippine Social Security System.

Read more...

Paracelis folks hit P30-M LandBank loan of LGU

By Gina Dizon

PARACELIS, Mountain Province – Folks of this remote town assailed municipal officials for not informing the public of a P320 million loan for construction projects among them, a farm to market road project whose location was reportedly not indicated.

They said the FMR was a prelude to a “ghost project.”     

 The Land Bank based in Tabuk City, Kalinga, a few kilometers from here, approved the loan application of the Paracelis local government.

In a follow up letter to Paracelis Mayor Marcos Ayangwa, the public said they wanted to clarify matters on the proposed loan but were frustrated no one from the municipal government attended a meeting to discuss the matter.  

Former municipal councilor Mike Assud said there were only two barangays out of nine who attended a prior Municipal Development Council meeting which earlier discussed said loan proposal.

Assud asked why location of the proposed P85 million FMR was not indicated saying a waterworks system was more a priority.

During said meeting, Fr Mario Awilan of  San Gabriel Catholic Mission asked officials of Paracelis: “Why did you hide this loan to people for almost four months.”

Approved by Land Bank on April 2 this year, the P320 million loan was designed to partially finance  construction of new multipurpose hall at P80 million, water system level 3 at P80 million, central terminal at P10 million, engineered sanitary landfill at P10 million, five units of new health centers at P25 million, equipment for sanitary land fill at P30 million, P30 million expansion of motor pool through the acquisition of new  heavy equipment – one unit wheel loader,  backhoe,  and 4 units wheeler dump truck; and counterpart for Philippine reconstruction rural development project (PRDP) of an FMR at P85 million.

           Participants during meetings urged the loan be lowered and recommended that the waterworks system be prioritized and FMR projects be identified by barangays.

As part of the loan requirement, the Sangguniang Bayan of said LGU in a resolution dated March 2, 2020 authorized Mayor Ayangwa to apply for a P320 million loan with Land Bank “to improve social services and increase local revenue sources through its economic enterprises.”

Ayangwa conformed to the loan on June 22, 2020.

 Said loan shall be paid in 15 years inclusive of 3 year grace period with interest prevailing during the time of availment of the loan and collateral using 20% of the internal revenue allotment (IRA) of the LGU.

An environmental compliance certificate (ECC) from the department of environment and natural resources (DENR) on the project-sanitary land fill- and a barangay resolution where the project is located was required by Land Bank.

Read more...

SSS opens applications for Covid-19 loan aid

CITY OF TABUK, Kalinga – The Social Security System (SSS) is accepting application for the Calamity Loan Assistance Program (CLAP) for members affected by the COVID-19 pandemic.

 Spain Urua, SSS-Tabuk head, said members can avail maximum loan of P20, 000, payable in two years at 6% interest per year.  Application is open until September.  

Urua said borrowers must have paid at least three years contributions, active member and no existing calamity loan.  Upon approval, loan proceeds is directly credited to borrower’s account while payment starts on the fourth month after release of loan.

Urua clarified no interest charge is deducted upon release except a service fee of 1%.

SSS is offering  CLAP in response to President Rodrigo R. Duterte’s Proclamation No. 929 declaring the country under a state of calamity due to the COVID-19 last March 16, 2020.

Borrowers can file their applications online through http://www.sss.gov.ph. -- PIA Kalinga

Read more...

Landbank offers loans for businesses, LGUs

Albert Galut of Landbank Tabuk City Branch Cordillera Lending Center invites  COVID 19- affected enterprises and LGUs to avail of their lending programs. 

By Peter A. Balocnit

CITY OF TABUK, Kalinga -- The Land Bank of the Philippines (LBP) offers loan assistance to small, medium and micro enterprises (SME), microfinance institutions (MFI), cooperatives, and rural banks affected by COVID-19 pandemic

Albert Galut of LBP Tabuk Branch said through the I-RESCUE (Interim Rehabilitation Support to Cushion Unfavorably-affected Enterprises by Covid 19) Lending Program, Land Bank  is providing assistance through credit and loan restructuring under more flexible terms and conditions.

                Interested SMEs, MFIs and cooperatives may borrow up to 85% of their actual need for working capital at an affordable interest rate of 5% per annum, payable up to a maximum of five years, with grace period on the principal payment.

Galut also informed of assistance available for local government units (LGU), the Help via Emergency loan Assistance for LGUs or HEAL, a supplement to the government’s initiatives in fighting COVID-19 and in providing direct support to vulnerable groups and individuals through the LGUs.

The program he said aims to support the LGUs in times of extraordinary events that have unprecedented multi-dimensional effects on the health sector, on the economy, on productive capacity and especially on poor Filipinos, and help prop up local economies, improve delivery of health services and provide humanitarian supports to the most adversely affected sectors by the LGUs.

In a related development, Galut said that 65 farmers in Kalinga were assisted under Landbank’s Agricultural Competitiveness Enhancement Fund (ACEF) with total loan release of about Php20 million.

               Eligible projects under ACEF are the purchase of farm input and equipment or farm improvement; acquisition/establishment of agri-based production and post-production and processing machineries, equipment and facilities; and relending to farmers and fisherfolk.

Seven farmers affected by the Rice Tariffication Law were also assisted under the Rice Competitiveness Enhancement Fund   providing Php4.4 million loan at two percent interest per annum, Galut said.  (JDP/PAB-PIA CAR, Kalinga)

Read more...

DTI opens loans for Ifugao entrepreneurs

LAMUT, Ifugao -- The provincial Dept. of Trade and Industry urged micro and small enterprises (MSEs) affected by government quarantine measures to avail of the  agency’s enterprise rehabilitation financing (ERF) facility.

Renato Alfonso of DTI-Ifugao said over DWPH 105.3 Lamut FM station DTI has set up a P1-billion ERF for MSEs to support MSEs affected by quarantine. 

“This is under the Pondo sa Pagbabago at Pag-asenso (COVID19 P3-ERF) that will be implemented once the Luzon lockdown is lifted by the national government or respective local government units,” Alfonso said.

The COVID19 P3-ERF is open to micro and small enterprises with “at least one year continuous operation prior to March 2020, and whose businesses suffered drastic reduction in sales during the ensuing epidemic.”

Micro enterprises with an asset size of not more than P3 million may borrow P10, 000 up to P200, 000. 

Small enterprises with an asset size of not more than P10 million may borrow a higher loan amount but will not exceed P500, 000.

Alfonso urged interested MSEs to visit DTI office and Negosyo Centers or call/text the hotline 0917-802-9333 for details or eligibility requirements. -- JDP/MBL-PIA CAR, Ifugao

Read more...

SSS: Application to small business subsidy program up to May 8

BAGUIO CITY -- The Social Security System (SSS) is calling on private sector workers affected by the Enhanced Community Quarantine due to the COVID pandemic to coordinate with their employers so they can be applied for financial assistance under the Small Business Wage Subsidy (SBWS) Program.

                SSS – Baguio Information Officer Christian Rillorta explained during the Cordillera Regional Inter – agency Task Group COVID – 19 online media briefing that the SBWS is a program being spearheaded by the Department of Finance in line with the Bayanihan to Heal as One Act.

This provides P5,000 – P8,000 cash assistance to affected workers nationwide based on the minimum wage in the region, which in the Cordillera Region is  P5,500.  

Rillorta said the SSS comes in with its database of private sector member employees and use of its online portal for employers – My.SSS account for the SBWS application. The Bureau of Internal Revenue will notify the qualified small businesses based on their database.

The online application for the SBWS started last April 16 and the last day of application will be on May 8.

The government plans to release the first tranche of cash assistance from May 1 – 15 and second tranche by May 16 – 30, he added.

Meanwhile, Rillorta said payment for SSS member contribution for the first quarter of 2020 has been moved to June and that there is  a 3 – month moratorium for payment of loans.

Rillorta calls for understanding of members  with the salary loan currently offered online  due to the ECQ  and may take longer processing time as the SSS online services is focused on the SBWS. SSS will also be offering Calamity Loan Assistance program after the SBWS implementation, he said.

“Hopefully our branches will open after May 15 and our clients must also expect changes operations as health and safety precautions will be included in the system”, he added.

For more information on the SBWS program and other SSS updates, log on to the facebook page – Philippine Social Security System. (JDP/CCD-PIA CAR)

Read more...

Interest-free loans for Baguio City farmers, vendors eyed

By Dexter A. See

BAGUIO CITY – The city legislative body approved on first reading a proposed ordinance providing for interest-free loans to farmers and vendors affected by the imposition and extension of the Luzon enhanced community quarantine (ECQ).

            The ordinance authored by all members of the city council stated it will be a policy of the city government to provide interest-free loan to farmers and vendors whose sources of income are affected by the ECQ due to the fight against the dreaded Corona Virus Disease (COVID) 2019.

            Under the proposed ordinance, each farmer shall be granted a maximum loan of P5,000 as start up for their farms and that only farmers registered with the City Veterinary and Agriculture Office shall be allowed to avail of the loan and the vendors registered with the City Market Authority shall be granted the same.

            The ordinance stipulates that the City Veterinary office and the City Market Authority shall prepare the guidelines and schemes for the availment of loans within 1 week from the approval of the proposed measure.

            The ordinance mandates the city government to provide an initial funding of P5 million from any available source of the city for the aforesaid purpose.

            The ordinance tasks the agricultural services division of the City Veterinary Office and the Office of the Market Supervisor of the City Treasury Office shall be the implementing offices of the proposal and the said offices shall submit to the City Council the number of farmers and vendors who availed of the loan.

            Based on a partial farmers survey conducted by the agricultural services division of the City Veterinary Office, there are some 1,582 farmers in 16 agriculture barangays cultivating farming areas in the city.

            The ordinance cites that the agriculture-based services include farming or planting of crops such as sayote, coffee, strawberry, potato, coffee, broccoli, lettuce, cutflowers and other herbs.

            According to the proposal, farmers normally prepare and plant the volume of vegetables and cutflowers in time for the Baguio flower festival and the summer season where there was supposed to be an influx of tourists to purchase the same.

            However, the cancellation of the flower festival and all other crowd-drawing events for the summer season due to the pandemic affected the income of farmers and vendors alike, following the stoppage of numerous related economic activities.

            During the nearly two months of extended ECQ, the ordinance claims there were less sales or no sales at all of vegetables and cutflowers as these were either distributed for free or sold at very low prices, thus, depleting the capital of the farmers and vendors.

            The ordinance stipulates that the affected farmers and vendors need assistance in the form of interest-free loans for their needed start up capital to resume their economic activities after the projected lifting of the extended ECQ by May 15, 2020.

            The ordinance was referred to the appropriate committee for study and recommendation.

Read more...

Imee pushes 1-year deferment, not default on payments

The G20 forum of the world’s major economies have joined the largest international lenders and even Pope Francis in a unanimous call for debt relief to the world’s poorest countries, Senator Imee Marcos said.

“What do we lose by asking for a one-year postponement of interest payments, a mere delay after decades of punctual payments, certainly not the default on debt that the Department of Finance dreads,” Marcos said.

“Already the message is clear: the world’s richest nations and the world’s top lenders like the International Monetary Fund, World Bank, and Asian Development Bank have called for a debt moratorium for the poorer nations, and the Philippines is included in last night’s list of 75 countries,” Marcos added.

“As always Pope Francis said it best, asking for lenders to find it in their hearts not only to delay payments, but even 'reduce if not forgive'  loans to the world's less fortunate,” Marcos also said.

Marcos said further that she would like the opportunity to explain her position to Finance Secretary Carlos Dominguez, who balked at her proposal to temporarily delay the country’s debt payments and use the funds saved for the government’s social amelioration program amid the COVID-19 crisis.

The Philippines’ rank as the 28th poorest nation in the world and puts it among 76 nations to which the G20 said private creditors could grant debt relief to cope with the global pandemic.

The G20’s call coincided with its decision to suspend the loan obligations of the world’s 25 poorest by May 1 until yearend, or even into 2021 if the COVID-19 pandemic persists.

Debt relief will allow poor nations to use their limited resources to boost weak health care systems and welfare aid, the G20 said.

Although the Philippines’ 28th-poorest ranking is a two-notch upgrade since 2017 and is expected to improve further to 31st in 2023, the country will remain at the lower end of 126 economies, based on projected gross domestic product per capita analyzed by the international economic research group FocusEconomics.

Read more...