Seedfinance Corporation, Philippines – Investment News

The Philippines is an archipelago of 7,107 islands. With an estimated population of about 92 million people, the Philippines is the world’s twelfth most populous country. 40% are considered poor. Poverty is concentrated in rural areas and in the sprawling urban slums. Considering the nature of employment and business in the Philippines, the presence and availability of microfinance is vital: 97% of total enterprises in the Philippines are micro-enterprises; 4.1 million families who belong to the lowest income strata are engaged in micro-enterprise activities, and many of the poorest manage at least two businesses. Even though there has been strong government support to develop the microfinance industry throughout the country, only 33% of the people concerned are reached by microfinance.

In April this year, responsAbility gave its first loan to Seedfinance Corporation. Seedfinance Corporation is an apex institution, which provides financial services to small microfinance institutions (MFIs), farmers’ organizations and small and medium-sized enterprises (SMEs). Given their size and small-scale operations, these institutions are usually unable to access financial services from commercial banks or international investors.

Funding via Seedfinance is a great opportunity for responsAbility to support small institutions that otherwise would be too risky and costly to finance directly. The small MFIs and farmers’ organizations play an important role in terms of social impact, as they can reach clients in remote rural areas, where otherwise no financial services are provided.

Located in Pasig City in the Philippines, Seedfinance not only provides financial services to small institutions, but also technical assistance and capacity-building programs that are vital to small start-up MFIs and SMEs.

By the end of 2009, Seedfinance provided funding to 71 MFIs and six SMEs located in various regions of the country – (except in the western part of Mindanao, which remains a conflict area).

Source: http://www.responsability.com/site/index.cfm?id_art=62525&vsprache=EN

Sustainability Has No Place in the Profit System

Application of sustainability principles to the profit system is a contradiction. When renewable energy, coming from the earth’s resources is used to power up economy and enterprises, the profit interests of the oil cartel will be displaced. Manufacturers produce materials and technologies that easily break down or reach their obsolete stage faster than they should to generate more demands from repeat and new generation customers. Although this practice contributes large amounts of waste that pollutes the earth, in the profit system competition, this is the only way to sustain. Sustainability is the adversary of profitability. More

The 2009 SEED FINANCE Stakeholders Conference

“MICRONOMORE, NO BORDERS!”

Mark your calendar on Nov. 26-27, 2009 in Luzon!

Consistently as in years past, this year’s conference again promises you more in learning, sharing, projecting, visioning and rising above the challenges!

More…

UP, UP, AND AWAY, SUPER-SUMAN!!!

UP, UP, AND AWAY, SUPER-SUMAN - Aling Dionesia Dela Pena, Oroquieta CityOne hardly will notice Aling Dionesia in that gathering of small and medium-scale entrepreneurs, government officials, cooperative officers, and other attendees to the Paglaum MPC – SEEDFINANCE SME MicroPlus product launch that sunny afternoon of June 19, 2009. Unassuming and soft-spoken as this lady is, who would believe she is the owner of a thriving enterprise that wows not only natives of Oroquieta in Misamis Occidental but also balikbayans and tourists from the U.S., Japan, Hongkong, and other countries. Only when she began asking questions about the SME facility being introduced by Paglaum Multi-Purpose Cooperative (where she is a member) and SEEDFINANCE will you be able to discern the business instincts underneath that homely, motherly figure. More…

Empowerment comes in all shapes and sizes

(ROWENA PARAGADOS – Don’t underestimate this lady)

<img class=“alignleft size-full wp-image-153″ src=”http://www.micronomore.com/home/wp-content/uploads/2009/09/rowena-paragados.jpg” title=”Empowerment comes in all shapes and sizes – Rowena Paragados” alt=”Empowerment comes in all shapes and sizes – Rowena Paragados”>The forum held by Lamac Multi-Purpose Cooperative (LMPC) and SEEDFINANCE Corporation especially for MSME clients that June 2009 morning was well-attended. The atmosphere was formal, and to add to the formality, a very unassuming lady with a somehow imposing size, sits at a corner waiting for her turn to share her experiences and sign the agreements for the SME loan facility being offered at that time. More…

MICRO-PLUS as Micronomore

micronomore-as-micro-plusConsistent with the development perspective of bringing micro-entrepreneurs to the next level of economic growth, a new financial product was recently piloted to 3 cooperatives, namely: Lamac Multi-Purpose Cooperative, Metro Ormoc Community Cooperative and Paglaum Multi-Purpose Cooperative.

This SME financing product, named as Micro-Plus, is designed for the partners’ microfinance graduates who have successfully increased their asset size and expanded their business reach. Borrower Risk Rating (BRR) System, used by Small Business Corporartion (SBC) and several banks, is employed in selecting clients for the MICRO-PLUS. More…

Renewable Energy: Getting Off the Grid

micronomore-getting-off-the-gridThe perspective of using cleaner, secure and sustainable sources of energy is not just immediately necessary in the face of the ever-rising prices of oil products but is our only way to live as humans and save the earth. Micro-no-more supports the NGOs, the Department of Energy and providers of solar and wind energy that are working in making solar and wind energy affordable to the people. More…

Islands Activation Program

Micro-no-more pooled-in the resources of SEEDFINANCE, SMART Communications and Partner-MFIs in launching the project: ISLANDS ACTIVATION PROGRAM. This program is designed for institutions located in remote areas where there is none if not very limited access to financial services. The solution includes provisioning SMART Money services and mobile-based applications for members of the institutions. More…

Micronomore: Microfinance and Beyond

Microfinance is not forever. Or at least it should not be. If a micro-entrepreneur remains micro forever, not only would he or she have failed, but the microfinance institution assisting would have failed even on a bigger scale. An MFI should provide a perspective for growth for the micro-entrpreneur. The micro- should grow to become [...]

Bringing entrepreneurs and their supporters together

It has been a while. The ripples of change have been continually shaping and re-shaping the socio-economic landscape yet our partnership remains stable and mutually rewarding. From the beginnings of our collaboration in CARE, then at SEAD, and now on to SEEDFINANCE, we have seen each other’s growth as we overcame challenges and forded on. More…

Micro– to Small Success Story

KWENTONG PENOY

Micro– to Small Success Story Tobias SolisEntrepreneur’s Name : Tobias Solis
Location : Santa Maria, Bulacan, Luzon
MFI Membership : United Bocaue Vendors Association Development Coop
Writer : Wilma B. Guinto (wilma@micronomore.com)

Ka Tobias Solis, a native of Trapiche, Oton, Iloilo was only 16 years old when he first set foot in Manila to find his fortune. He was able to work as an extra helper in a poultry farm in Last Pinas, the Crescent Corporation owned by Robert Philips. His earning was a meager Php3.00 a day that he spends for his daily subsistence and at the same time save whatever money left so he can send some for his parents in Iloilo. More…

Entrepreneur Success Stories

Entrepreneur Success Stories - RowenaRowena has been a member oflamac Multi-Purpose Cooperative (LMPC) since 1996, who started with as a food peddler and later on into a small restaurant owner. She first availed a Php. 5,000.00 loan from LMPC (US$22). Gradually, she increased her loan to expand her food business and to establish new businesses. LMPC was there to provide Rowena Business Development Services.

She now owns a profitable hardware and electrical supply store, construction materials shop, heavy equipments, and an internet café. Rowena is one of the LMPC clients with loan size of up to P2M (US$44,000). More…

Make it grow: a development perspective

Energizing local economies and empowering local communities. Microfinance is not the catch-all cure for poverty and economic stagnation. It should have a perspective of the micro- going beyond its boundaries/limitations, growing with the times, adapting to the changes in the macro-economic environment, providing or laying down the groundwork for far-reaching solutions to present economic dire [...]

Make your money count

Make your money count Your money can be placed in assistance programs for microfinance and small-and-medium-enterprise-finance. SEEDFINANCE and its network of strategic partners enable funds to be coursed through local cooperatives, microfinance-NGOs, and rural banks in the form of wholesale credit lines for micro- and SME-finance.

Beyond Finance

Your money does not stop in micro-credit. It goes to other initiatives that are essential in the furtherance of socio-economic goals. From knowledge sharing, to business development services, to technology-riding MSME-finance expansion, to a whole lot more of micro- and micro-no-more projects.

SF-MED CTR: The SEEDFINANCE Micro-Economic Development Center More…