The members of the 28 LGBT associations in Davao City are benefitting from the city government’s “Rainbow Mag Negosyo Ta ‘Day”, a sustainable livelihood program for the sector to earn basic entrepreneurial skills.
The city government’s Rainbow Mag Negosyo Ta ‘Day has P8.4 million budget offered for loans to 840 beneficiaries at a maximum amount of P10,000 each member of the 28 identified LGBT associations. Each LGBT association has at least 30 members.
Since the program started in October 2019, the city government has been extending the assistance in 28 batches. On Monday, August 17, the 15th batch received assistance at the Sangguniang Panlungsod.
Norman Baloro, the focal person for Rainbow Mag Negosyo Ta ‘Day, said that the program is similar to Mag Negosyo Ta ‘Day for women that is aimed at giving beneficiaries extra income and training so they can be equipped with basic entrepreneurial skills.
“This program aims to help our LGBT sector to become productive for themselves, and even for their family and community. At the same time, this is also essential because we also help them to become self-reliant and independent,” Baloro said.
According to Baloro, the loan is payable at P417 per month for 24 months with zero interest. Beneficiaries will start paying the loan two months after receiving the money.
Beneficiaries will undergo the two-day mandatory training on sustainable livelihood program or the Basic Business Management Training (BBMT), including on financial literacy.
Baloro said that the beneficiaries who already received P10,000 started businesses such as sari-sari stores, bigasan or rice retailing, and beauty salons. CIO
