Around 1,156 individuals and 77 groups in the fourth to sixth districts of Pangasinan have benefited from the PHP60 million disbursed by the Department of Social Welfare and Development (DSWD) under its Seed Capital Fund (SCF) program

Capability building officer Francis Bustamante of DSWD Eastern Pangasinan, in an interview on Monday, said the amount was given from Jan. 1 to Nov. 20 this year.

Under the program, qualified individuals may avail of the PHP15,000 seed capital grant while groups may avail of PHP15,000 up to PHP600,000 depending on their number and the proposed business.

“This is a cash assistance which they may use to purchase raw materials or small tools for their businesses,” Bustamante said.

The fund is allocated as start-up capital to purchase small tools, raw materials, and common service facilities such as machinery, equipment, and plants needed in starting or expanding microenterprise for individual enterprises.

The SCF shall only be provided once.

Bustamante said the beneficiaries are required to undergo initial training before the seed capital is released to them.

“It is a grant but we will be monitoring them on their fund utilization for five years, and also see if they would still need some more assistance for their chosen project,” he said.

Among the latest beneficiaries are groups of residents of Asingan town with proposed projects such as vegetable farming and aquaculture and rice general merchandise retailing.

The groups received around PHP2 million.

Bustamante said interested individuals or groups may inquire about the program at DSWD offices. (PNA)