DOLE-BRW – Workers’ Microfinance Program (KALINGA para sa mga Manggagawa Fund)
To alleviate poverty among target workers through micro entrepreneurial activity;
To support employment generation and promote entrepreneurship among workers; and
To facilitate the access of workers to credit services to finance their livelihood and entrepreneurial activities.
Displaced workers in the formal, informal, and public sectors;
Workers with existing micro-enterprise venture needing expansion; and
Workers with no existing micro-enterprise but:
* Are willing to engage in such endeavor; and,
* Have participated in appropriate livelihood/entrepreneurial training.
* At least one (1) year residency in the area;
* The micro-enterprise should have weekly or daily income;
* Must be 18-65 years old;
* One member per household can apply;
* Not presently employed or has no full-time employment;
* No existing loan with a microfinance institution (MFI)/People’s Credit and Finance Corporation (PCFC); and
* Household monthly income of not more than P10,000 or below the poverty threshold.
* Handicraft and small manufacturing (e.g. rug making, basket making, etc.);
* Services (e.g. tricycle operation, barber/parlor shop, repair shop, etc.)
* Food production/processing (e.g.. meat processing, candy making, bakery, etc.)
* Small agribusiness projects (e.g.. small piggery/poultry, cutflower production) and production loan for non-traditional crops (e.g.. vegetables) but should be supplemented by a business activity which yields a daily income; rice and corn and other traditional crops are excluded; and
* Market vending and small trading (e.g. sari-sari store, fish, vegetables vending)
Terms and Conditions:
* 1st loan – not more than P6,000.00
* 2nd loan to subsequent loans – upon evaluation of the MFIs, based on the previous performance of the sub-borrower
* A gradual increase may be given subject to the needs of the borrower and should be supported by a cash flow statement.
* The maximum loan amount is P150,000.00.
Interest Rate: Shall be based on market rate
Maturity: Shall be based on the sub-projects’ cash flow and the sub-
borrowers’ overall repayment capacity.
Worker/Sub-borrower fills up registry form in the Public Employment Service Offices (PESO) located in all Municipal and Provincial government offices, DOLE Regional Offices (ROs) and attached agencies.
DOLE ROs and attached agencies or PESO evaluate and refer application to any PCFC-accredited microfinance institution (MFI) operating in the area.
MFI conducts credit investigation.
Qualified sub-borrower is advised to attend compulsory group training.
If borrower passes examination, loan is released.
DOLE-ROs and attached agencies/PESOs monitor results of referrals.
For more information and advice, please call directly the institution involved.
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