Cayetano's PTK program benefits typhoon victims

By MEDORA NB QUIRANTE
February 4, 2015

BORONGAN CITY, Eastern Samar – In Eastern Samar, tricycle drivers and fisherfolks stand to benefit from a P200,000 financial support from Senator Alan Peter Cayetano.

Personally turned over by Cayetano on January 31, 2015, the funds will be used as seed fund for Eastern Samar State University (ESSU) Riders Tricycle Operators and Drivers Association in Borongan, and Barangay 6 Fisherfolk Association in Guiuan town; two towns recovering from damage brought by recent typhoons.

Borongan sustained damages to property, livelihood and lives in December 2014 due to typhoon Ruby (international codename: Hagupit) while Guiuan still continues to recover from all that was lost to super typhoon Yolanda (International codename: Haiyan).

Meeting with fisherfolks in Guiuan and tricycle drivers and operators in Borongan, Cayetano also gave gifts to daycare children.

“Since super typhoon Yolanda hit Eastern Samar, I recognized the need for small business owners to adopt a system where they would have access to capital that doesn’t require interest payments of up to 20%. The PTK program would be an example of a successful financial aid structure that works,” Cayetano said.

Cayetano's Presyo Trabaho, Kita/Kaayusan (PTK) Kontra 5-6 program will allow members of the two organizations to give out small loans to members at low interest rates and easy payment schemes eventually encouraging them to start their own small businesses.

Aleli Macawile, a member of the ESSU Riders TODA said he has trouble saving up for his tricycle's monthly amortization that he often turns to loan sharks that collect almost P200 in interest for every P1,000 loaned.

"My co-members tell me that through this PTK, I only have to pay P30 for every P1,000 I borrow. This will make a lot of difference," Macawile said.

According to Cayetano he plans to cover more sectors with the program.

"We aim to not only provide support to a particular sector but the whole community. From vendors, to fishermen, farms and transport workers, the PTK aims to give micro-entrepreneurs a chance to be successful by providing them a sustainable capital buildup,” he said.