Interest-free loans granted to Muntinlupa entrepreneurs

From mb.com.ph:

by Jonathan M. Hicap
November 8, 2014

The Muntinlupa city government recently granted interest-free loans to around 100 residents who ventured into micro business enterprises in the city.

Mayor Jaime Fresnedi turned over P645,000 to beneficiaries of the Joint Resource Financing Program (JRFP) at the Muntinlupa City hall. He said that the zero interest loan program is the city’s poverty alleviation platform which centers on financing the needs of the low-income groups of entrepreneurs.

Fresnedi explained that the loans, ranging from P3,000 to P10,000 are interest free and payable in six months. Entrepreneurs with good credit standing will earn the privilege to renew their application and be granted bigger loan packages of up to Php50,000, depending on their business capitalization.