DOST releases P6.9 M as aid to 6 MSME in Kalinga province
TABUK CITY, Kalinga – The Department of Science and Technology has assisted six micro, small and medium enterprises with total cost of P6,977,358.
Ralf Sapi-il of DOST-Kalinga said P4,744,500 was provided to MV Arts & Signs in San Juan, Tabuk City for its continuing improvement and Shama Hardware in Bulanao, this city, for its upgrading. Both are Small Enterprise Technology Upgrading Program beneficiaries.
The amount of P2,232,858 under the grant-in-aid was distributed to four cooperators.
Bulanao Multipurpose Cooperative received P493,989; Tinglayan Coffee Growers Association – P417,673; Pasil Gimpong Organization – P661,100, and Lin-awa Rehabilitation and Development Center – P660,095.
The assistance is intended for equipment acquisition to improve product quality and productivity and increase their market competitiveness.
Miguel Vargas, owner of MV Arts & Signs, who is borrowing for the second time, acknowledged how his business has boomed through the program. He assured to pay the loan on time and called on other beneficiaries to do the same so that more small enterprises will be assisted under the program.
Sapi-il said the province is allotted P8.070M for the program this year, but clarified they can ask for additional funds if more borrowers qualify. In 2019, DOST released P10.7M to the province. – Larry T. Lopez