The local government of San Carlos City thru City Administrator Atty. Estefanio S. Libutan Jr. turned over a cheque worth P100,000 to the San Carlos City Peanut Industry Association (SCCPIA), yesterday, October 25 as additional capital for their peanut business.
Grace Nequinto, Cooperative Development Specialist II of Cooperatives and Livelihood Development Office said that the amount is a loan granted to the SCCPIA for the third time as one of the city’s Top Grossers during the Panaad sa Negros Festival 2014-2015; the sum of money was put under the Trust Fund Proper for livelihood group’s loan assistance payable in one year without interest.
Jenny Carrillo President of SCCAPIA said that the money will also be loaned to members as additional capital for their peanut business especially that the peanut industry was also badly affected by the pandemic.
She added that they have internal policies and parameters for the members to avail the said loan including a 5 percent monthly interest for members as income for the association.