QUEDANCOR’s loan repayment hits 90 percent

By ELI C. DALUMPINES, PIA Samar
May 26, 2006

CATBALOGAN, Samar  –  Clients who have contracted loans with QUEDAN and Rural Credit Guarantee Corporation have a high repayment rate, QUEDANCOR’s Eriberto M. Suyom informed in a radio interview over DYMS Aksyon Radyo Thursday morning.

Suyom, who is the District Supervisor of QUEDANCOR’s Calbayog District Office, disclosed that their clienteles’ loan repayment reached 90%, contrary to what the public has expected.

Earlier, credit institutions who ventured with this kind of services, including government banks, aired their sad experiences with the borrowers who, in the most cases, forgot their responsibility of paying their debts right after borrowing. This, they blamed to the people’s lingering ‘dole-out mentality’.

Suyom said they do not encounter much difficulty when it comes to loan repayments since most of their clients are religiously paying their loans, except in cases like typhoons or other calamities where those who engaged in agri-business are likely to suffer.

However, in cases like these, QUEDANCOR is willing to relax the payment terms with those who are affected until such time that they have already recovered with their loses, he stressed.

“We even grant re-loans to our clients who are victims of calamities so that they will have the opportunity to recover,” the QUEDANCOR official informed.

According to Suyom, ‘the dole-out mentality’ of Samareños is now slowly eroding as evidenced by this high percentage of loan repayment.

QUEDANCOR extends to each client a maximum of P50,000 but he is required to submit a project proposal of the business he is planning to put up with. Suyom, however, said his office is willing to assist their clients in making project proposals.