Bacolod City gets P1.65M for SEA-K associations
The Local Government of Bacolod City recently received a total of P1,650,000 for its 11 Self-Employment Assistance-Kaunlaran Associations (SEA-K).
The SEA-K associations were identified as Kadalag-an SKA, Score Paghab, Libertad Market Vendors, PWD SEA-K, Meat Vendors, Brgy. 35 SEA-K, Burgos Market Vendors, Felisa SEA-K, Banago SEA-K, Brgy. 12 SEA-K and Alangilan SEA. Each has 30 members and received P150,000 seed capital at P5,000 each.
“With this seed capital from DSWD, we are hoping that your businesses, even small-scale will get a boost. Put it to good use and make it grow,” said DSWD Celia C. Yangco who graced the turnover ceremony recently in Bacolod. DSWD Field Office VI Regional Director Joel P. Galicia and Operations Division Chief Lucita J. Villanueva also attended the activity.
The SEA-K is the national government’s micro-finance strategy for job generation and investment in human capital. The program, which provides seed capital at no interest and payable in two years to its beneficiaries, helps establish community-based, self-managed credit facilities in the municipalities.
It has the following components: social preparation, group formation, capability building, capital assistance, technical assistance for business management and productivity skills and accessing other social services.
SEA-K has two levels. The first level provides a seed capital of P5,000 to members of associations to operate their own micro-enterprise. The second level, called SEA-Kabayan allows the members to avail loans for basic shelter, home improvement, and micro-enterprise expansion. The SEA-K, however, does not just provide seed capital but also provides venue for personality development and positive value formation among its members. (DSWD-6/ May Castillo)
