Through the combined efforts of Office of the Mayor and Municipal Social Welfare and Developlent (MSWD) headed by Mrs. Irene R. Torres, 4 women groups were granted seed capital from the Department of Social Welfare and Development (DSWD) through Self Employment Assistance – Kaunlaran Program.
Under Sustainable Livelihood Program, and also known as SEA – K, it is a capability building program of DSWD in cooperation with the local government units which aims to enhance the socio-economic skills of poor families through the organization of community-based association for entrepreneurial development. It aims to allow the association to establish and self-manage micro business.
The associations that received seed – capital are Masikap Na Kababaihan SEA – K Association (Poblacion), Achievers Catandala SEA – K Association, Balanga SEA – K Association, and Women Of Poblacion SEA – K Association. The grant amounts to P105,000.00, P146,000.00, P100,000.00 and P130,000.00 respectively.
In order to be qualified for the non-collateral and non-interest seed – capital grant, there must exist an association of 5 – 6 groups with total members of 25 – 30. With this, the association may receive a maximum amount of P150,000.00 or equivalent to P5,000.00 per member, and payable within one to two years.
However, the association will also need to go through series of training focusing on technical and financial management for them to fully understand the program and to prepare them for the business that they intend to establish. In the end, a project proposal is to be submitted upon which the amount of seed – capital to be granted will be based.
According to Mrs. Torres, the entrepreneurial activities of Ibaan grantees will be that of a “buy-and-sell” business.
The grantees, on the other hand, expressed their delight having their request being granted.