The model for microfinance Is ASA Philippines. In 15 years, they have been lending P21 billion to 1.9 milion borrowers for a yearly total of P60 billion.
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IN a Cagayan de Oro village named after the known home of Jesus Christ are two young people who have found a sense of purpose in life working with a microfinance group.
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Whether they may be Muslims or Christians, micro entrepreneurs remain vital cogs in the economy because they contribute to economic inclusivity.
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MANILA (August 21, 2019) — It has been four years since Kamrul Tarafder, President and CEO of ASA Philippines Foundation, a major microfinance nongovernmental organization, first attended the Asia-Pacific Housing Forum and his organization continues to reap the benefits.
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On the 15th anniversary of the founding of ASA Foundation – a micro-finance NGO, the organizers departed from the usual recognition program and, instead, paid tribute to their unsung heroes – the “Nanays” (mothers), the core of their clients.
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More than 20 percent of Filipinos live below the poverty line, according to the International Fund for Agricultural Development, a specialized UN agency tasked to eradicate poverty and hunger in developing countries.
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With a network of 1,150 branches as of end of 2018, this micro-finance foundation covers about 82 provinces serving over a million borrowers in 25,239 barangays . As of year in review, they have disbursed more than P190 billion in micro loans since it was founded way back in July, 2004.
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SMALL banks and microfinance institutions (MFIs) in the Philippines are realizing the importance of digital technology to achieve higher degree of operational efficiencies, and are seeking to offer more services to the unbanked and underserved portion of the country’s over 100 million population.
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In the southern island of Mindanao, nestled by the shores of Lake Lanao, lies the Islamic City of Marawi. At an elevation of 700 meters or 2,300 feet, it has a cooler climate compared to most other areas in the Philippines.
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Small banks and microfinance organizations in the Philippines are slowly moving into digital technology as they pursue operational efficiencies while seeking to offer more services to the unbanked and underserved portion of the country’s over 100 million population.
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ASA Philippines Foundation just needed seed capital to start its operations. Though it is unconventional, the Foundation has subsequently politely declined all offers of grant funding. The program it has designed is sustainable
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DIIT, AGUTAYA, Palawan —After being “in the dark” most of their lives, 120 households in the island of Diit, a barangay of Agutaya town northeast of Palawan province, began enjoying power from the sun last August, thanks to the free solar power systems provided by microfinance foundation ASA Philippines.
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MANILA, Philippines - For decades, a number of households in Barangay Hiluctogan in Mahaplag, Leyte have resorted to open defecation, exposing residents to serious health risks. In the absence of toilet facilities, the forest enshrouding the remote barangay served as the residents’ public restroom for their daily relief for many years.
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ASA Philippines, a microfinance NGO, recently announced it will issue PHP 2 billion (USD 40 million) in bonds to fund new and existing projects through 2021. One of these is lending to women entrepreneurs in amounts from PHP 6,000 (USD 119) to PHP 10,000 (USD 199) with a flat interest rate of 15 percent for six months. ASA staff will visit borrowers weekly to collect payments in the amount of PHP 50 (USD 1) for each PHP 1,000 (USD 20) borrowed.
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Fely Bocanegra, a vegetable vendor at the Santa Ana public market in Manila, relies solely on the ever-present Indian money lender for her daily business capital. Under the usual setup, a 20-percent interest is charged to the borrower payable up to 30 to 40 days, and collection is made on a daily basis.
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The Credit Guarantee & Investment Facility (CGIF) has successfully backed the issuance of a PHP1 billion (US$20 million equivalent) local currency bond issued by non-stock non-profit organization ASA Philippines Foundation, Inc. (ASA) with a 75% partial credit guarantee.
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MANILA, Philippines - Microfinance non-government organization ASA Philippines Foundation is issuing P2 billion in corporate bonds to expand its lending activities to about two million women-led micro, small and medium enterprises (MSMEs) across the country. This is the largest issuance by an individual microfinance institution so far.
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Microfinance NGO ASA Philippines is issuing P2 billion in bonds, in a bid to cater to the credit needs of some two million poor women entrepreneurs in the country. The issuance is the largest by an individual microfinance institution (MFI) so far, and will largely be used to fund ASA’s expansion and related projects through 2021.
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IT'S THAT MOST WONDERFUL time of the year again. Christmas carols are playing, sparkling lights and colorful ornaments decorate stores, houses and streets and there is that distinctive nip in the air. For the Scrooges among us though, bahhumbug - what's that fuss? Work continues.
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Marilyn married her boyfriend Regis when she was just 18. They went on to have four daughters, living in a small dwelling by the sea in Tacloban City, Leyte. Regis worked as a mechanic and also drove a passenger tricycle owned by someone else for a living.
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Winning the top award, which came with a P300,000 cash prize, was ASA Philippines Foundation Inc., a non-stock, non-profit organization providing affordable financial services to low-income women engaged in micro and small scale enterprises. ASA Philippines was also conferred the Best MFI Intermediary and Best MFI Availer awards.
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Typhoon Haiyan, one of the strongest tropical cyclones ever recorded, struck Southeast Asia in early November 2013, creating unspeakable devastation. In the Philippines alone, where the typhoon’s wrath was concentrated, over six thousand people lost their lives.
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