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Friday, March 29, 2024

Small entrepreneurs get support from Erap

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As part of the Manila City government’s program to uplift the lives of Manileños, Mayor Joseph Estrada on Sunday handed out P5,000 in cash aid to 919 beneficiaries—all budding entrepreneurs—to improve their livelihood and life condition.

The Capital Assistance Program is a livelihood initiative of Estrada when he assumed the post in 2013 to help poor residents and owners of backyard businesses put up their own ventures.

In a ceremony at the San Andres Sports Complex in Malate, Manila, the former President said the CAP is an interest-free and collateral-free capital assistance to support low-income micro-entrepreneurs in the city.

Manila Mayor Joseph Estrada hands the cash aid to one of 919 beneficiaries of the city’s Capital Assistance Plan for poor residents and owners of backyard businesses in rites at the San Andres gym on Sunday.

The city government has already released more than P26 million to almost 7,000 beneficiaries who now have their own businesses that continue to flourish, the Manila chief executive said.

“We intend to expand the program and reach to hundreds of Manilenos who want to start their own businesses and improve their lives though the CAP. Those who finished and graduated from our Manila Manpower Development Center, and for those who have no permanent homes and living in Kamada Boys’ Town, they will also receive assistance from the city government,” Estrada said.

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The mayor also congratulated all beneficiaries who are “second timers” or those who have repaid the initial seed funds loaned to them by the city government last year. They were given a bigger loan to boost their businesses.

“I wish all the beneficiaries to commit their promise to pay the loans granted to them. Hopefully the number of people who have been paying their bills to CAP increase,” Estrada told the audience.

“At present, at least 29 percent of the beneficiaries have already paid. I hope this will increase so that many Manileños can also get assistance from the government,” the mayor said.

Estrada likewise thanked Manila Department of Social Welfare officer-in-charge Nanet Tanyag for her support to serve the underprivileged Manileños.

“You’ve proven yourselves to be trustworthy. You made good use of the capital given to you, so we will give you again a chance to avail the assistance,” Estrada said.

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