Farmers, fisherfolk, and small business owners in Pinamalayan can now access government loans and banking services without traveling to Calapan City, following the opening of a Development Bank of the Philippines (DBP) branch lite unit.
The new branch addresses a long-standing need in Pinamalayan, where residents previously had to make the two-hour journey to the provincial capital for basic banking transactions and loan applications.
“Malaking tulong ito sa aming mga kababayan, lalo na sa mga magsasaka at mangingisda na mahirap makapunta sa Calapan para sa pautang,” said Mayor Rodel M. Magsino, noting how the branch will particularly benefit farmers and fisherfolk who found it difficult to travel to Calapan for loans.
The DBP branch will offer services including agricultural loans, micro-enterprise financing, and salary loans for government employees – services that Mindoro coconut farmers and fishers have long needed to expand their businesses.
Many residents relied on informal lenders or cooperatives due to limited access to formal banking.
“Ngayon hindi na namin kailangan mag-byahe pa ng malayo. Dito na lang sa bayan namin makakakuha ng tulong pampuhunan,” said a sari-sari store owner.
Second District Rep. Alfonso V. Umali Jr. hopes the branch will eventually become a full district branch, citing growing demand from the town’s 27 barangays.
“Sana ay maging district branch ng DBP dito sa Pinamalayan dahil maraming pangangailangan ang aming mga constituents,” Umali said.
Photo courtesy of PIA Oriental Mindoro
Discover more from Mindoro Today
Subscribe to get the latest posts sent to your email.
