TIM eMagazine Vol.3 Issue 7
39K MSMEs
get support
from CARD’s
P3 program
Growing and glowing businesses. The founder and chairman emeritus of CARD MRI, Dr. Jaime Aristotle B.
Alip, together with field staff were welcomed in the growing and glowing businesses of their CARD, Inc.
clients in Tagum City and Koronadal City on September 3, 2018. These clients are among the beneficiaries
of CARD, Inc. in its initiative to support the P3 of DTI.
M
ORE THAN 39,000 micro, small, and medium
enterprises (MSMEs) of the country are now
receiving financial services from the Center
for Agriculture and Rural Development
(CARD), Inc. (A Microfinance NGO) in
support to the Pondo sa Pagbabago at Pag-
asenso (P3) program of the Department of
Trade and Industry (DTI).
In 2017, CARD, Inc. signed a
memorandum of understanding with DTI
to become the government’s partner in strengthening the access of
community members to the P3 program.
“This collaboration is part of CARD’s commitment of ensuring the
growth of MSMEs to eventually build a poverty-free country. Poverty is
a complex issue, hence, working with like-minded organizations and
the government is a significant factor in the process,” said Flordeliza L.
Sarmiento, managing director of CARD Mutually Reinforcing Institutions
(CARD MRI) where CARD, Inc. is a member institution.
CARD’s P3 initiative
For this program, Sarmiento emphasized that CARD is not receiving any
financial support from the government. “We will be using our own funds
for this program. In terms of policies, it will be aligned with the guidelines
of the program accordingly,” she added.
The program prioritizes to reach the market vendors and agri-
businessmen in the 20 provinces under the government’s P3 program
namely, Sorsogon, Zamboanga Sibugay, Negros Oriental, Leyte,
Catanduanes, North Cotabato, Western, Eastern, and Northern Samar,
Mountain Province, Lanao del Norte and Lanao del Sur, Agusan
del Sur, Siquijor, Zamboanga del Norte, Sultan Kudarat, Bukidnon,
Maguindanao, Sarangani, and Sulu.
“These microentrepreneurs can avail a loan up to PHP100,000
maximum with an affordable interest rate,” said Jocelyn D. Dequito,
executive director of CARD, Inc.
The loan is payable in 12 months maximum on either a daily or weekly
basis. “The program is consistent with our regular microfinance services.
The terms are also flexible,” added Dequito.
Potential clients may avail the loan and can be processed within 24
hours, following the guidelines of CARD. This, according to Dequito,
is their way of fighting against usurious lenders who are very quick in
providing loans to people. “We have streamlined our processes to be
become relevant and respond immediately to the changing needs of our
clients,” added Dequito.
Growing businesses
On September 3-4, 2018, Dr. Jaime Aristotle B. Alip, the founder and
chairman emeritus of CARD MRI, visited the P3 beneficiaries of CARD in
Tagum City and Koronadal City, respectively.
CARD MRI, according to Dr. Alip, is in the business of poverty
eradication. “Providing families with financial access is the first step
towards poverty eradication. And we are happy to see our clients who are
doing well in their respective businesses,” added Dr. Alip.
Edlyn Soronez, P3 beneficiary from Tagum City, said the program
helped her grow her flower shop business. “I am thankful to become one
of the beneficiaries of the program. I can now buy enough stocks for my
growing clients,” shared Soronez.
Moreover, Nelly Pabillon said that she is thankful to CARD for granting
her PHP28,000 loan for her vegetable trading in Koronadal City public
market.
Dr. Alip also emphasized that these microentrepreneurs will be able to
dictate the own course of their lives when and only given the access to
asset ownership. “It is our hope that through our microfinance programs
and this P3 initiative of the government, more families will have the
capacity to own assets, invests in businesses, and saves for the future,” said
Dr. Alip.
CARD also guaranteed that this P3 initiative will continue to be
reinforced. “Even if the agreement is only with CARD, Inc., we have also
encouraged our three banking institutions to entertain potential clients
for the P3 program,” assured Dr. Alip.
As of July 2018, CARD, Inc. has already disbursed a total of PHP450.9
million loans to 39,384 clients.
CARD MRI is a group of 21 institutions that aims to eradicate poverty
in the country. It has three banking institutions, the CARD Bank, CARD
SME Bank, and Rizal Bank, Inc., which are operational in some of the
concentrated areas covered by CARD, Inc.
“We are one with the government in fighting poverty in the country.
Moving out from the claws of poverty can only be made when all the
private and public sectors and the community itself work together as
one,” concluded Dr. Alip. www.cardmri.com
www.cardbankph.com
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