MOLOSBOLOS
SEA- K
Association: Level UP! Savings
turned into a Community -
based Financial Facility.
To respond to the Local Economic Development goal by means of providing the beneficiaries individual livelihood activities, capital assistance and trainings, the Self Employment Assistance Kaunlaran Association was organized. Molosbolos SEA K Association has 20 Pantawid Pamilya members. The name of the association was derived from the name of their Barangay. Molosbolos is located at the upland areas of Libon, Albay, Region V making it hard for the members to access in market and financial opportunities.
Through
the conduct of Family Development sessions and
Business Development sessions, the members were identified and recommended for the Capital Assistance under the Sustainable Livelihood Program. Initially, the association was provided with the capital seed fund amounting to Php 200,000.00 which is divided equally among its twenty (20) members having Php 10,000.00 each member. Most of the members utilized the capital seed fund in engaging into Abaca Slipper making, Hog Farming and Trade & Commerce such as Sari – sari Stores and Buy & Sell.
The
project of Molosbolos SEA K Association
aggravated to create self - employment to the underemployed and unemployed women in the barangay. However, this program will not provide them with livelihood itself but also with knowledge, skills and trainings that shall develop their capabilities to handle their own income generating and sustainable livelihood. The association sees the opportunities to expand its members and livelihood activities, now having its total members of sixty – six (66) coming from the community. Subsequently, the association was able to repay the loan amount provided by DSWD, the members decided not to withdraw the Equity capital amounting to Php 97,000.00; they were able to generate thus conceptualized another livelihood activity that could augment to the needs of the members. They have decided to relend the equity capital primarily to its members and soon expand the target clientele hence providing interest rate as part of the income generating project of the association.
One of the SKA members engaging into Trade & Commerce and Hog Farming.
Impact: Molosbolos SEA K Association members were able to generate income from the SEA K assistance; each member has existing enterprises such as Hog Raising and Trade and Commerce. Share of dividends after the one – year operation amounting to Php 4,850.00 per member.
Further Readings: Updates and development of the said practice will be stated on the Quarterly Narrative Report, Periodic Monitoring Report and Microenterprise Development Track Report.