JMH takes part in assisting MSEs and MSFF through ACPC

by: JLGranado | 2020

The economic consequences of the COVID-19 pandemic call for urgent policy responses to keep the economy afloat and enable people to retain their incomes. Most of the measures envisaged by the government at present are macroeconomic like giving of loans and loan guarantees to businesses particularly to Micro, Small & Medium Enterprises (MSMEs).

As a microfinance and a non-government organization, JMH wants to impart assistance to the efforts of the national government in providing relief to those affected by the pandemic.

It is by far happened unexpectedly that the Agricultural Credit Policy Council (ACPC) has invited JMH to a webinar where the partnership has started.

The ACPC was created to assist the Department of Agriculture (DA) in synchronizing all credit policies and implement strategies and policies that increase and sustain the flow of credit to agriculture and fisheries.

To implement the credit facility, partner conduits are needed. With the approved application and availability of the credit line, the JMH is now eligible to cater to the programs of ACPC and offer loans for the working capital of the Marginalized Small Farmers and Fishers (MSFFs) as well as of Micro Small Enterprises (MSEs).

The programs which will be catered by JMH this year 2021, will be the SURE COVID19, KAYA, and ANYO.

The SURE COVID19 is a financing program with a maximum loanable amount of twenty-five thousand pesos (P25K) per borrower is designed to support MSFFs and MSEs business operations amid the community quarantine.

The KAYA or Kapital Access for Young Agripreneurs will also be catered by JMH, it is a program with a maximum loanable amount of five hundred thousand pesos (P500K) for financing working capital of start-up or existing agri based projects of young entrepreneurs and agri-fishery graduates.

Lastly, the ANYO, a loan program with a maximum loanable amount of fifteen million pesos (P15M) to finance capital requirements of agri-fishery based micro and small enterprises.

With the ACPC’s direction, the programs will be implemented in the areas of Masbate, Camarines and Sorsogon provinces.

The partnership that will lead to the catering of these government services is a great initiative for JMH to take part in offering measures to those entrepreneurs and agribased businesses amid the prevailing effects of the pandemic.

It is also a great move to support the fishers and especially the farmers who are still considered marginalized but have always been regarded as the backbone of the nation.