Philippines: NAPC assures wide reach of microfinance service

Jun. 19, 2007

MANILA — Positive attitude, enthusiasm, and perseverance are the driving factors that made Domingo Mondragon, a “Tindahan Natin” outlet owner, Angel Narito, proprietor of Argies Bakery and Mini Grocery, and Rodolfa Tongco, a buy-and-sell agent, succeed in building their own businesses through the National Anti-Poverty Commissions (NAPC) microfinance assistance.

NAPCs officer-in-charge, Assistant Secretary Dolores de Quiros-Castillo, joined the three successful entrepreneurs share their success stories at “The PMS Forum: Cerge for Truth,” hosted by Secretary and Presidential Management Staff (PMS) Director General Cerge M. Remonde.

Remonde said the successful ventures of these budding entrepreneurs were featured on national television in the hope that they will give inspiration to the audience and encourage more people to go into entrepreneurship. He added that NAPC serves as the frontline agency in the total work against poverty and hunger and is very much involved in the governments microfinancing program.

Mondragon, a member of the Handog Sikap Kalipi ng TS Cruz SEA-K Association, was encouraged by NAPCs “no interest, no collateral” loan policy. A high school graduate and with no means to pursue a college education, Mondragon availed of the NAPCs loan assistance program and started his sari-sari store in 2001 with an initial capital of P5,000.

Today, Mondragon generates an average of P500 to P1,000 weekly profit. Noodles and rice are the most saleable foodstuff.

Narito worked in a bakery in Cavite City in 1999 where he got his basic skills in baking. With his P4,500 savings, he started the bitso and donut business. Out of his daily sales, Narito saved P50 a day, which he used to buy a second-hand oven.

Later, Narito opened his own bakery and mini grocery in Parola Compound, Binondo, Manila after seeking the help of UPLIFT Philippines Inc. and availing of an initial loan of P3,000.

Today, Narito can loan as much as P80,000. Through the business, Narito and his wife were able to send their son to school and their standard of living has improved.

“A small capital matched with determination spells success for any business venture,” Narito said.

Tongco, who hails from San Rafael, Rodriguez, Rizal first heard of the microfinance assistance through a friend.

She joined the Center for Community Transformation (CCT) Credit Cooperative where she got P4,000 as her first loan. She used the amount to finance her buy-and-sell frozen food business.

As a born again Christian, she would always lift up to God her earnings for the following day. As a result, more people have placed bulk orders with her.

While keeping her frozen food business, she also ventured into the gravel and sand business.

Noting the success of the three entrepreneurs, De Quiros-Castillo assured that NAPC is doing its best to make sure that its microfinance services will continue to trickle down to the poor.

NAPC is formulating a National Financial Literacy Program to inform its people on the field, its MFI partners, government-owned and controlled corporations (GOCCs) and the poor sector about microfinance. The development of modules for this program is currently underway.

For those who want to avail of NAPCs services, they can access the website or visit the NAPC Office at the 3rd Floor, Agricultural Training Institute, Elliptical Road, Diliman, Quezon City, or through Tel. No. 426-5263.

comments powered by Disqus