Aboitiz Foundation Extends P27.6M in Microfinance Loans to Coops
Aboitiz Foundation, Inc., the social development arm of the Aboitiz Group, extended microfinance loans worth Php28 million in 2012 to various cooperatives in Cebu, Benguet and Davao, allowing more than 1,200 individuals to benefit from sustainable livelihood projects that were implemented in these areas.
A total of 73 microfinance loans were granted to selected organizations under Aboitiz Foundation’s ABAG (Aboitiz Business Assistance and Guidance), a project under its enterprise development component.
For more than 20 years now, Aboitiz Foundation has been assisting different organizations nationwide to earn additional income, providing access to various income-generating livelihood activities and job opportunities and empowering them to become entrepreneurs in their respective businesses. During this 20-year period, a total of 381 loan packages worth Php102 million were approved for 16,240 beneficiaries.
Supplementing these loan packages were capability-building and livelihood skills training programs that the foundation conducted to ensure that these livelihood projects become self-sustaining.
“Our 20 years of existence was able to empower the less privileged individual, who eventually became the catalyst in transforming the lives in their communities. We believe that we have added worth and significance in what we do,” said Aboitiz Foundation Executive Vice President Sonny Carpio. “Our initiatives in microfinance, capability-building and livelihood skills training help mold, empower and transform these individuals to become better citizens.”
Aboitiz Foundation’s microfinance program offers the best rate compared to others, with no collateral required.
“Trust, integrity, and commitment are our core values that we uphold and want to instill to our partner-organizations. One significant proof to this is our average collection efficiency of 96% for the past 20 years,” Carpio added.
As an incentive to top-performing loan beneficiaries, Aboitiz Foundation recently lauded four Cebu-based cooperatives for their hard work and cooperation, which led to the success of their livelihood programs.
The organizations—Kapunungan sa mga Banikanhong Mag-uuma Alang sa Ekonomikanhong Kalambuan (KABAMEKA), Cambinocot Multipurpose Cooperative, St. Vincent Neighborhood Multipurpose Cooperative and South Cebu Hog Raisers Multipurpose Cooperative—were cited for being outstanding partners and for serving as an inspiration to similar organizations. They were given plaques and P10,000 for their group.
From the time they first sought the help of Aboitiz Foundation, these cooperatives have since grown both in size and in the number of projects they have implemented. Today, these organizations continue to show outstanding and exemplary performance in their businesses and communities.
Aboitiz Foundation’s programs target social development needs in the areas of education, enterprise development, primary health & child care, and environment & sustainability. Founded in 1988, the foundation, the Aboitiz Group’s social development arm, is celebrating 25 years of helping people help themselves in areas where its businesses operate.