Life has been good for Yolanda Inazarrea. She is now reaping the fruits of her labor after years of hard work and she has no plans of slowing down. And one of the reasons for her success was a “partner” in the form of microfinancing through ABS-CBN Bayan Foundation.
“Nung una, wala akong alam tungkol sa programang microfinance ng ABS-CBN Bayan Foundation. Ang alam ko lang ay takot ako sa utang. May tindahan pa kami noon at gumagawa ng ref at aircon (At first, I was not aware of the microfinance program of ABS-CBN Bayan Foundation. All I know is that I’m scared of having debts. We had a store back then and would fix refrigerators and aircons),” the 52-year-old tricycle and pedicab operator said.
However, her passion and desire to expand her business made her curious what ABS-CBN Bayan Foundation has to offer. She studied how the microfinance system works and gathered friends and neighbors to join her in the seminars hosted by the foundation.
“Dahil sa Pangkat-Buhayan ng foundation, nakabili ako ng apat na pedicab at ngayon ay may tricycle na din ako. Nakapagpundar ako ng mas malaki para sa aking negosyo (Because of the foundation’s Group Loan, I was able to buy four pedicabs and now I also have a tricycle. I was able to invest a larger amount for my business too),” Aling Yolanda revealed.
Since 1993, the foundation has helped families from marginalized sectors through microcredit and entrepreneurship training. Aling Yolanda is just one of the 50,000 “partners” of Bayan Foundation in “building the nation from below the economic ranks.”
“Microfinance is a very effective means of contributing to the wealth of majority of Filipinos. It can reduce poverty through increasing income levels and has been noted to improve the lives of children, women, and the community in general,” said Dr. Eduardo Morato, president of ABS-CBN Bayan Foundation, explaining how the organization is a “partner” of an entrepreneur like Aling Yolanda.
For the love of the team
“Dalaga pa ako nung sumali ako sa foundation noong July 1999. Ngayon ay may mga anak na ako. Nung nag-umpisa ako dito sa Balubal, Marikina, walang bubong ang mga bahay dahil sa bagyo (I was still single when I joined the foundation in July 1999. Now, I have kids. When I started here in Balubal, Marikina, the houses have no roofs because of a storm),” said Lot Chicote, Microfinance Officer of Balubal.
Ms. Lot realized that Balubal is a community that needs help. She handles eight buklods (divisions) including Balubal, which is composed of six to nine groups of microfinancers. Each member is expected to help one another in improving the business, paying on time and enjoying the camaraderie.
“Isa itong group responsibility — ang bawat isang kasapi sa grupo ay nagtutulungan para makabayad ang lahat sa kanyang hiniram sa tamang oras (This is a group responsibility — each member of the group helps so that everyone can pay his/ her loan at the due date set),” said Josephine Laroco, a canteen owner from Balubal.
Balubal Buklod Leader Shirley Girangaya was able to receive an MPL worth of P50,000 recently, which she aims to pay for six months only. The 46-year-old sari-sari store owner only started barrowing P5,000 eight years ago. Because of her discipline, she was able to upgrade her owner jeepney and provide the needs of her kids. Now, she’s motivated to build a house with a garage, with the help of her store and Bayan Foundation.
Raising the bar
Like Aling Yolanda, 51-year-old Boy Bautista didn’t join Bayan right away. He first observed the group’s activities and saw for himself how each member was benefiting from microcredit. From a capital of P6,000 for his charcoal business in 2003, Mang Boy now said that he at least earns up to P1,000 a day.
Beverage dealer Meriam Centeno couldn’t agree more. She started delivering 35 cases of softdrinks and through Bayan’s loan program, she now delivers 300 cases per day. She also has a truck and a motorcycle that distributes the goods. Centeno was able to build her house through the business.
Microfinance plus plus
Dr. Morato said that for 2007, Bayan is going the “extra mile” of being a “microfinance plus plus” — meaning that the microfinance services will now be complemented by livelihood and enterprise development programs.
“Nation building from below means developing small and microenterprises which in fact has the greatest impact for a majority of our citizens,” he added. “The objective of lending, we believe, should not end with collecting but for the building of the capabilities and challenging these people to become entrepreneurs.”
With this new development, Bayan Foundation has recently launched the Enabling Network for the Upliftment of Filipino Families or ENUFF, a new team that will spearhead the foundation’s social development mission.
“We saw the need to rigorously push the strategies of microenterprise development for wealth creation and train people in communities on entrepreneurship. More importantly, we want to strengthen families through the training intervention on livelihood and education on entrepreneurship,” said Irma Cosico, Director of ENUFF. “We would actively link with like-minded institutions who share the vision of uplifting the lives of Filipino families.”
As a nurturer of entrepreneurs, a generator of jobs and a formator of family values and welfare, ABS-CBN Bayan Foundation through ENUFF aims to become a catalyst of change.
For inquiries, call 410-3453/ 927-9365, or text 0920-3047690, or e-mail: info@absbayan.pinoycentral.com.