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Sea-K’s success in Ormoc paves way for Sea-K II

BECAUSE of the successful implementation of the Self-Employment Assistance-Kaunlaran (Sea-K) program, the Department of Social Welfare and Development will implement in Ormoc Sea-K II, a non-collateral, interest-free money-lending program for small-scale entrepreneurs.

Sea-K targets poor families with six members earning only P7,000 a month and below. Sea-K I has attained an 80% repayment rate in Ormoc. Sea-K II is better as beneficiaries will only have to pay 80% of the P20,000 loan amount, explains Councilor Lea Doris Capuyan-Villar, chairman of the Committee on Social Services.

A total of 40 beneficiaries have been identified for Sea-K II who will receive a total of P400,000 in loans. The beneficiaries are made up of 25 farmers from Cabingtan and 15 members of the Violence Against Women and Children Foundation. The beneficiaries will be organized into the Sea Kaularan/Kabayan Credit Cooperative.
(West Leyte Weekly Express issue of Aug. 13-19, 2012)

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