Balikatan sa Kaunlaran – PMDF
Program Title: Balikatan sa Kaunlaran (Partnership for Progress)
Program Objective: To provide opportunities for poor Filipino families particularly women to achieve self-reliance through self-help, training, mentoring, and provision of sustainable financial services, including collateral-free loans.
Eligible Borrowers:
- Poor but enterprising women who fit the following criteria for poverty:
- Their "house index" as indicated by the points system based on floor area, type of material and roofing used should not exceed the maximum of six (6) points; and,
- Their income index per capita should not exceed P2,000.00 per month.
- Must be a group of 5 friends who trust each other and live closely to be able to look after each other;
- Must undergo a 2-day pre-loan orientation seminar to learn about the program's philosophy and rules to be prepared for the discipline required and pass the Group Recognition Test;
- Must be willing to be federated with other recognized groups to form a Center with a maximum of 50 women;
- Must be willing to attend one-hour weekly Center meeting near their homes; and,
- Must be willing to memorize and live by the Clients' Verbal Pledge (code of honor).
Loan Purpose:
- General Loan - as working capital for income generating activities (e.g. livelihood)
- Special Loan - to finance other non-business related needs such as tuition fee, house repair, electric and water utility installation, etc.
Coverage: Metro Manila
Terms/Requirements:
Amounts:
- General Loan - P1,000.00 to P75,000.00
- Special Loan - P1.000.00 to 30,000.00
Interest Rate: Average interest ranges from 2.0 to 3.3% per month.
Maturity / Repayment:
- General Loan - 12 to 50 weeks in weekly payments.
- Special Loan - 4 to 50 weeks in weekly payments.
Security:
- For loans less than P20.000.00 - no collateral.
- For loans more than P20.000.00 - Post-Dated Checks.
Other Services Offered to Clients:
- Enrollment with PhilHealth (voluntary basis)
- Family accident insurance coverage (very affordable premium)
Contact Details:
Philippine Micro-Enterprise Development Foundation (PMDF)
GF Melendres Building, F. Manalo St., Pasig City
Mr. Jovencio A. Guanzon, Executive Director
Mr. Choy Yringco, Control Manager
Head Office and Pasig Branch: (02) 641-2207, 642-3895
Marikina Branch: (02) 934-8655
Quezon City Branch: (02) 953-7276
San Juan Sub-Office: (02) 713-9402 local 111 or (02) 714-1830
Tondo Branch: (02) 712-8047
Recent Posts
- Wholesale Lending Window for Graduating Micros and BMBEs
- Wholesale Microfinance Program
- MFI Employees Loan Facility
- Micro-Housing Loan Facility
- Micro-Energy Credit Program
- Livelihood Development Program for OFWs
- Microfinance Eco-Enterprise Program
- Microfinance Program for NGOs and Cooperatives
- Self-Employment Assistance Program
- Microfinance Program for Rural Workers
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