Davao Light bridges local coop for financing micro-livelihood

DAVAO CITY, May 21 -- A local cooperative of small vendors has been recipient for the second time of micro-financing loans from Aboitiz-owned Davao Light and Power Co. through its social development arm, the Aboitiz Foundation, Inc.
 
Beneficiary of a P400 thousand soft loan is the Davao Ecoland Small Entrepreneurs Multi-purpose Cooperative or DESEMULCO. It is a cooperative of small vendors whose members sell various “pasalubong” items, food, soft drinks and other beverages, fruits, bottled mineral water, pastries, etc. at the Davao City Overland Transport Terminal at Ecoland, Matina, Davao City.

The loan, the second that the cooperative has availed of, was released last April 30, 2012. Its previous availment was only P200 thousand. This was fully paid on September 2011.
 
Vic N. Sumalinog, manager for Corporate Community Relations of Davao Light, said the micro-financing loan extension is undertaken by the Aboitiz Foundation. However, since the latter is based in Cebu, it is tapping the electric utility as its arm in reaching out to the Davao-based coops.
 
The micro-financing loans are given to small cooperatives that are in need of additional resources to support projects of its members. The other Davao coop that has availed of the loan facility is Mandug Development Cooperative or MADECO..