KABANKALAN CITY – A micro financing cooperative managed by agrarian reform beneficiaries was opened yesterday with Kabankalan Mayor Isidro Zayco as guest at HLJ Building, Lirazan Street, here.

The Minaba Multipurpose Cooperative is in partnership with the National Confederation of Cooperatives, Occidental Negros Agrarian Reform Beneficiaries Planters' Association, and the Negros Occidental Department of Agrarian Reform-South.

Zayco said he is very happy that small farmers worked hard to put up their own cooperative and solely manage it with the assistance from NATCCO.

“I know this initiative will be successful because it comes from their hard work,” Zayco said.

He also said Kabankalan has the same program for women's group only. He said they give livelihood loans to women and when they keep a good payment record, the city gives them more funds for their projects.

Evelia Tizon, Micro Cooperative program manager of NATCCO, said they help small cooperatives like MCC to build and strengthen their socio economic capabilities and provide them with loansat reasonable interest rates.

However, Tizon said, at the beginning of the operation NATCCO will help them with the management and credit procedures. But when they are ready to operate on their own, in the third year of their partnership, the cooperative can opt to pre-terminate their agreement, she added.

She also said the P10 million loan funds will then be converted to a regular loan.

Zosimo Mambalos, Jr. MCCchairperson, said having their own cooperative is a big help for them as it will give them easier access to funds at much lower interest rates compared to those of banks.

Mambalos said the cooperative will service its members and started its operation yesterday. However, he added non ARBs can also avail of loans from them if they become members.

Tizon added that the cooperative is a capacity-based lending entity where the amount loaned depends on debtor's capacity to pay. *LTG

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