Financing Programs Loans and Financing Programs for Micro, Small and Medium Enterprises

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