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Microfinance Centers Receive Livelihood Grants from GLOBE Print E-mail
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Saturday, 11 September 2010

 

Microfinance Globe Grants

(as published in Manila Times Business Section, August 23, 2010)

GLOBE Telecom awarded livelihood grants to outstanding Bangko Kabayan microfinance centers composed of entrepreneurial housewives in line with the Globe Enterprise Development Program (EDP) to help spur economic development at the grassroots. The awarding coincided with the 10th year anniversary celebration of Bangko Kabayan, a leading rural bank based in Batangas province.

Kapitan Macalamcam B2, topped the list of 15 applicants, followed by Kapitan Bayanan 3. The two centers received P30,000 and P20,000, respectively, to help them expand their businesses. Kapitan stands for Kapisanan ng mga Ilaw ng Tahanan.

“It is inspiring that small community enterprises of Bangko Kabayan have exemplified how small business programs can support economic self-sufficiency in their own communities. Globe is proud to be part of the success of the micro-entrepreneurs by providing them with the necessary technology and funding support to sustain their initiatives,” said Jeffrey Tarayao, Globe head of Corporate Social Responsibility.

Aside from Bigasan Center and chair rental services, Kapitan Macalamcam B2 located in MacalamcamB, Rosario, Batangas, plans to use the funds to branch out into meat processing and reatailing. The center has 23 members.

Grace Vergara, Kapitan Macalamcam B2 president, outlined the group’s plans for expansion. “We will pay the meat grinder with the grant that we received. The rest of the money will be used to buy salter weight (about 100 kilos) and other materials and ingredients so we can produce finished products like tocino, longganisa, patties, embotido and siomai,” she said in Filipino. On the other hand, Kapitan Bayanan 3 which is based in Bayanan, San Pascual, Batangas, looks forward to getting additional funding for its home care products business such as dishwashing liquid, fabric conditioner, and powder detergent. Kapitan Bayanan is composed of 17 housewives wanting to improve their lives. The Globe BridgeCom livelihood grant was offered to all Kapitan Centers which Bangko Kabayan microfinance groups. The criteria for the selection include the financial viability of the project (40%), community benefit (40%), and innovation (20%).

Globe introduced the livelihood grant in 2009 to help sustain and expand community enterprises.

 

Last Updated ( Saturday, 11 September 2010 )
 
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MF Transparency Seal
Bangko Kabayan received the official Seal of Transparency as a symbol of its commitment to fair and transparent pricing. The bank participated in the Transparent Pricing Initiative in the Philippines by submitting its loan product pricing data to MicroFinance Transparency. MFTransparency is a global initiative for responsible and transparent pricing in the microfinance industry. In each country included in its Global Transparent Pricing Initiative, MFTransparency facilitates transparent pricing practices through pricing disclosure, education and training and policy advisory. Through this methodology, MFTransparency seeks to further sustainable microfinance and expand access to microloans for the poor.