Mobile phone activities are greatly affecting the lives of people everywhere – from keeping in touch with loved ones through either SMS or voice call to handling and managing cash and non-cash transactions for business purposes – mobile phone communication has become an indispensible part of our lives that we can no longer ignore. Mobile phone credits or “cell phone load” plays a vital role in this process. People need to acquire an amount of load for a cellular phone to enable it to perform any of the services required of a particular need or transaction.

Pursuant to SEEDFINANCE’s advocacy of providing meaningful financial services to the poor, it has collaborated with DLUCKY3 TRADING AND GENERAL MERCHANDISING INC.* to bring convenient and beneficial airtime loading system to Partner-Financial Institutions (PFIs) with SMART Money operations. By working with D’LUCKY3, PFIs become Sub-Key Account partners where limitless opportunities to generate additional income through airtime load distribution are sizeable.  Members and clients of PFIs also get to benefit by doing airtime load retailing without any known boundaries thus, yielding better income share.

Having an IN-HOUSE AIRTIME LOADING SYSTEM can save a great deal of money on the communication expense of households aside from the income opportunities that the business provides.

Visit www.dlucky3.com for more information.

The first among the seven scheduled SEEDFINANCE Provincial Training Programs on Portfolio Management has turned out to be a successful one as 28 delegates from different Partner Financial Institutions in the Western Visayas region attended the activity last March 27, 2012 at the Small Ville 21 Hotel, Mandurriao in Iloilo City. The PFIs present during the training are Guimaras Multi-Purpose Cooperative, Pontevedra Peoples Development Cooperative, Barotac Nuevo Development Multi-Purpose Cooperative, Panay Development Workers Cooperative, Pag-Inupdanay Inc., Laua-an Multi-Purpose Cooperative, Pandan Multi-Purpose Cooperative, Immanuel Partners Multi-Purpose Cooperative, Guimbal Development Cooperative, Southern Iloilo Area Multi-Purpose Cooperative, Caticlan Boracay Transport Multi-Purpose Cooperative, Uswag Development Foundation Inc. and Balete Teachers Development Cooperative. It was facilitated by the SF-MAX Training & Consultancy team composed of Mr. Marlowe Baring, Corplan Manager; Ms. Patricia Pelayo, Corplan Officer and Mr. Elvi Caña, Regional Portfolio Officer of Region 6.

Portfolio Management involves the planning, leading, organizing and controlling of organization’s investments and products offered to the market. The activity included various sessions that guided all participants to understand the importance of the topic to their daily microfinance operations. The morning focused on the discussion of the three areas of portfolio management – liquidity, profitability and quality. The facilitators provided lectures, slide presentations and disseminated activity toolkits to further enhance the capacity of the attendees. During the afternoon, the training also taught them how to become financially disciplined portfolio managers especially in operating credit and savings programs through topics comprised of controlling delinquency, provisioning, controlling non-earning assets and improving earnings. Finally, the financial viability planning gave an understanding to the participants on the basic features of a loan product, segregating portfolio according to quality, identifying

fund sources and costs, determining collection rate and reviewing the operational self-sufficiency factors. On the last part of the session, they made sample computations based on the given figures to familiarize them on the actual practices and determine if they acquired all the knowledge they needed for their respective organization’s financial goals.

Just like the success of the first provincial training, SEEDFINANCE anticipates that the remaining six Portfolio Management Trainings in other areas all over the Philippines will become victorious as well through the active participation of its Partner Financial Institutions that aims to improve their current operations for the benefit of their microfinance clients and members to better impact their respective lives and businesses.

Click here to check out our training schedules for Portfolio Management!

The communities where the MFIs serve are located in remote, hard to reach areas where basic financial services are inconvenient and inaccessible. MFIs and their clients still need to travel to other towns where banks are available just to obtain cash and perform other basic financial transactions. To address this issue, SEEDFINANCE seek strategic partnerships that will not only enhance and complement our products and services but ultimately, will benefit our clients.

Electronic Network Cash Tellers, Inc. (ENCASH), the first Independent ATM Deployer and a member of Megalink network in the Philippines which provides privately-owned ATMs to areas not deemed viable by commercial banks, is the ideal strategic partner for SEEDFINANCE.

HOW IT WORKED FOR LAPMUCO AND 4Ps

LAPMUCO (Lapuyan Multi-Purpose Cooperative) was accredited by SEEDFINANCE April 2010. At present it has a total of 977 members all belonging to the Subanen tribe.

Lapuyan is a 4th class municipality (a classification based on average annual income of municipalities, 4^th class having P20, 000,000 or more but less than P30,000,000 income in a year), in the province of Zamboanga del Sur, Philippines. Despite of the abundant and rich agricultural and natural resources, Lapuyan is one of the poorest municipalities in Zamboanga del Sur. And the province is one of the poorest provinces in the country. Lapuyan has suffered from the repression of poverty brought about by decades of unstable peace and order situation, political, social, cultural and harsh economic conditions.

Tungawan on the other hand is a 2nd class municipality in the Province of Zamboanga Sibugay, Philippines and is situated in the southern part of the province also abundant in natural resources. Income classification of Sibugay is higher than that of Lapuyan’s but it ranks 6^th in the National Statistical Coordination Board (NSCB) data on poorest and least poor provinces. Many areas in Sibugay are living below poverty level because of harsher conditions.

The Philippine government, through the Department of Social Welfare and Development (DSWD), implemented the Pantawid Pamilyang Pilipino Program (4Ps) or the poverty alleviation program wherein families receive P1,400 (around 33 US dollars) as monthly allowance.

Residents of Lapuyan and Tungawan were identified recipients with 2,686 and 3,488 beneficiaries respectively (as of July 2011).

However, during program implementation, the administrators were faced by the problem of disbursing the cash grants as the beneficiaries queue under the heat of the sun outside LBP office just to get their share of the financial support. Various attempts to hasten the inconvenience of distributing the 4Ps funds during its scheduled release were made but to no avail.

To lessen the mess and hassles of giving out the beneficiaries’ allocation during the scheduled release, LAPMUCO had initiated the installation of Automated Teller Machines (ATMs) in Lapuyan, Zamboanga del Sur and Tungawan, Zamboanga Sibugay, and was realized in December 29, 2010 and May 30, 2011, respectively. ENCASH provided the machines to the cooperative.

When the ATMs were installed, problem on managing its liquidity surfaced. In the first few months after the installation, the cooperative had difficulties in sustaining the ATMs cash loading due to lack of funds.

To diminish the liquidity problem, the cooperative accessed financial support from SEEDFINANCE Corporation through FINEX facility in June 3, 2011 amounting One Million Pesos (PhP1,000,000.00) as initial release and was revolved to cater the withdrawal of 4Ps beneficiaries wherein more or less 95% are from the Subanen tribe; Succeeding FINEX fund releases were made in August 9 and 12, 2011.

Aside from catering 4Ps withdrawals, military personnel and other walk-in clients were also served. To maximize the utilization of the machine, the Local government unit (LGU) is planning to release the salaries of the municipal employees, military/Philippine National Police (PNP) personnel through the ATM.

Presently, the LAPMUCO were able to install a total of five (5) ATMs. These are located in the following areas:

1. Lapuyan, Zamboanga del Sur
2. Vincenzo Sagun, Zamboanga del Sur
3. Suminot, Zamboanga del Sur
4. Tungawan, Zamboanga Sibugay
5. Mabuhay, Zamboanga Sibugay

Residents of the community, 4Ps beneficiaries and cooperative members are greatly benefiting from the ATM installations. According to 4Ps beneficiaries, they used to line up under the heat of the sun when claiming their money. Now with an ATM conveniently located in their area, they can withdraw cash anytime of the day. They also added that they can now use the time they save doing household chores and attend to other daily errands instead of waiting for their turn to use the machine.

Lapuyan residents used to travel 1 hour and 30 minutes and spend Php200.00, for transportation and meals, to get to Pagadian City – just to have access to ATMs. With ATMs in their community, they are able to save a lot of time and money.

Beneficiaries also claim that 4Ps withdrawals via ATMs are more organized compared to the normal process of releasing 4Ps funds wherein Municipal Links/DSWD schedule withdrawals per barangay, in coordination with the cooperative. The recipients said the inflexibility of time and inconvenience does not appeal to them. .

SEEDFINANCE realizes the needs of the disadvantaged, un-served and underserved sector of the society, that’s why it continues to develop and innovate and is always on the lookout for relevant strategic partners who will assist in bringing affordable, reliable and accessible financial products and services to these communities, providing opportunities to improve their way of life.

SMART Communications, true to its commitment in bringing connectivity to most Filipinos, launched a project in 2008 called Islands Activation Program. Its aim is to assist Island- based microfinance institutions with mobile- based products and technologies to conveniently transmit funds using SMART mobile phones.

By the end of 2009, there are 78,000,000 estimated mobile phones all over the Philippines, and because of its availability and ubiquity even in far flung areas, SEEDFINANCE deems SMART’s IAP appropriate as another value-added service that will greatly benefit its clientele. Therefore, in early 2010, the strategic partnership between SMART and SEEDFINANCE was made official.

Prior to Smart IAP, people living in remote islands and isolated barangays encounter challenges to perform basic financial transactions. They incur high transaction costs to get to established banking services because they still need to travel far distances just to deposit, withdraw or transfer cash. Furthermore, costly service charges, remittance delays and enduring risk to dangers when travelling with cash.

The introduction of mobile banking in island communities is not only beneficial to its residents but also plays an important role in the country’s economic development and increases the level of financial inclusion.

To date, 24 SEEDFINANCE Partner Financial Institutions all over the country are involved in the Islands Activation Program and have already activated 5,581 Smart Money accounts for their members.

Over 50 Smart Money- In, Money- Out (MIMO) Centers have been set up in 50 remote rural communities where island residents can conveniently buy airtime, transfer money, pay their bills and make other micro purchases just by using their mobile phones.

Because of its successful operations and the convenience it brings to the communities it serve, SEEDFINANCE and Smart Communications are all geared up to meet the rising demand to put up more MIMO Centers in far flung areas.

Mobile BEAT or Mobile Banking Education and Training were devised as a support initiative for the Island Activation Program, its aim is to instruct and prepare Microfinance institutions and microfinance clients on the technical and practical use of mobile banking in their daily transactions and how they can utilize it to engage in other business opportunities.

Convenience for Microfinance Institutions (MFIs) and its borrowers in becoming a Mobile Banking Islands Activation Program Partner:

• A tool for mobile loan collection and distribution to Borrowers
• A fast, easier, secure and affordable way of receiving and paying loans
• You can also use Smart Money for other financial transactions ie.

~ Bills payment (water, electricity etc.)

~ To transfer money to relatives and friends via text message

~ Withdraw cash from ATM (with Smart Money Card) or turn electronic cash to money at accredited MIMO (Money–In, Money-Out) Centers

~ Purchase goods and services where there are POS machines

~ Other mobile banking services

Selection of Islands Activation Program Partners:

• Part of the SEEDFINANCE network
• Recommended by Seedfinance
• Remote locations

~ 1 to 2 hours away from the city

~ MFI community

• Able to pass the accreditation process of SMART

Ka-Entrep Starters’ Day

SEEDFINANCE’s Participation in Educating Pre-start Up and Existing Enterprises

SEEDFINANCE participated on the previously held Ka-Entrep Starters’ Day last November 29, 2011 held at the Skydome of SM City North EDSA in Quezon City. The event was organized by Ka-Entrep Micro and Small Entrepreneurs Organization of the Philippines Inc. which is a non-stock, not-for-profit organization composed of micro entrepreneurs who belong to different industries and aims to alleviate poverty in the country by helping micro entrepreneurs grow and strengthen their enterprises through trainings, events, networking and advocacy. The aim of the event is to reach pre-start up and existing enterprises by educating them as well as providing advice and sharing network opportunities.

Various government and non-government institutions like Department of Trade & Industry (DTI), Business Permits & Licensing Office of Quezon City (BPLO), Intellectual Property Office (IPO), Department of Science & Technology (DOST), Technology & Resource Center (TRC), Philippine Marketing Association (PMA), New Media and Alas, Ople Company CPAs have gathered in order to give information to the attendees on how to build, manage and run a good business venture.

Mobile banking (M-Banking) is known to be a method of performing banking transactions with the use of mobile devices such as mobile phones, laptops and ATM machines. SEEDFINANCE Corporation continues to support its Partner Financial Institutions (PFIs) by introducing this technology to extend innovative services and processes for the benefit of the end-clients. The company has initiated several trainings and advocacies to educate these organizations in the systematic utilization of mobile banking to become a part of their daily operations. Its primary purpose is to provide cooperative members, especially those in far-flung areas with the easiest access to different financial services of their respective institutions through the simple use of their fingers and mobile devices at the lowest cost possible.

One of the PFIs of SEEDFINANCE who advocates on M-Banking is First Consolidated Cooperative Along Tanon Seaboards (FCCT) in Cebu. FCCT, as the result of two-time consolidations and three mergers of seven primary cooperatives, has grown into a large organization which covers the Visayas region. As of this date, it has a total of 16 active branches with regular microfinance activities. FCCT has piloted its mobile banking operations last June of 2010 in Tuburan branch and it started to use the technology on services including money transfers, releases of loans, distribution of salaries to employees, ATM withdrawals and reloading. Ten of its branches are now actively participating to give efficient and reliable services to their members.

Through SEEDFINANCE’s partnership with Smart Communications and ENCASH, FCCT has been accredited to issue Smart Money Cards and establish Automated Teller Machines, respectively. It has successfully generated 4,103 Smart Money applications of members who are currently utilizing the cards to receive loans, transfer funds to their love ones, reload prepaid credits and manage the financial aspects of their business. The total funds released by FCCT to their clients through Smart Money has amounted to Php 5,400,000 while the total funds collected as of December 2011 has reached to Php 4,500,000. It has brought convenience to both the organization and its end-clients; and has provided new business opportunities, as well as new income sources, which can make their lives closer to progress. As a result of keeping abreast with this innovation, FCCT has also earned cash awards, good public perception and international visits of personalities who wish to see how mobile banking in the Philippines works. The institution plans to integrate mobile banking to its savings product, such as the anticipation of the “text a deposit & text a withdrawal” schemes.

This is only the beginning of SEEDFINANCE’s advocacy towards microfinance in financial inclusion through mobile banking initiatives. It is still carrying on with its goals- to spread mobile technology to all of its Partner Financial Institutions and build cashless communities in remote islands in the country.

The 2011 Micro No More Infinity Congress

Last November 11 and 12, the 2011 SEEDFINANCE Corporation National Stakeholders Conference, also known as the Micro No More Infinity Congress, was held in Dakak Park and Beach Resort, city of Dapitan, Zamboanga Del Norte in Mindanao. The conference is an annual gathering of stakeholders to SEEDFINANCE’s Micro No More advocacy, a development perspective that microfinance ought not to be forever, that the micro- must grow and move up to the next small- or medium-scale levels. This two-day event featured the sharing of lessons from Partner Financial Institutions (PFIs) which achieved success as they support SEEDFINANCE’s mission towards financial inclusion. Representatives from several partner institutions served as speakers in order to inspire other PFIs through milestones they brought in their respective communities.

Day one had 2 plenary sessions wherein the first plenary focused on enabling financial inclusion through technology and innovation. Several success stories were witnessed from First Consolidated Cooperative on its mobile phone banking experience, Lapuyan Multi-Purpose Cooperative on ATM banking services in improbable areas and Dumanjug Multi-Purpose Cooperative on its expanded financial services. The second session highlighted expanding financial inclusion beyond traditional borders that included Islander Multi-Purpose Cooperative on its program in reaching underserved areas, ICTUS Premier Cooperative on Performance Management and Lamac Multi-Purpose Cooperative on its online lending scheme. The speakers entertained questions from other delegates. A credibility pageant was also conducted where a number of PFI representatives were nominated for the election of members of the Board on the following day.

Social Presentations of the co-organizers of the conference led by Smart Communications as one of the convenors together with other strategic partners served as the start of day two. Duties and responsibilities of the directors were discussed before the actual 2011 election proceedings. The conference ended through the renewal of partnership vows as the partner representatives and SF board & management mutually signed certificates as a sign of their continuing partnerships toward microfinance progress.

Everyone went home looking forward to another successful Micro No More congress next year.

Section 1. This Act shall be known as the “Truth in Lending Act.”

Section 2. Declaration of Policy. It is hereby declared to be the policy of the State to protect its citizens from a lack of awareness of the true cost of credit to the user by assuring a full disclosure of such cost with a view of preventing the uninformed use of credit to the detriment of the national economy.

Section 3. As used in this Act, the term

(1) “Board” means the Monetary Board of the Central Bank of the Philippines.

(2) “Credit” means any loan, mortgage, deed of trust, advance, or discount; any conditional sales contract; any contract to sell, or sale or contract of sale of property or services, either for present or future delivery, under which part or all of the price is payable subsequent to the making of such sale or contract; any rental-purchase contract; any contract or arrangement for the hire, bailment, or leasing of property; any option, demand, lien, pledge, or other claim against, or for the delivery of, property or money; any purchase, or other acquisition of, or any credit upon the security of, any obligation of claim arising out of any of the foregoing; and any transaction or series of transactions having a similar purpose or effect.

(3) “Finance charge” includes interest, fees, service charges, discounts, and such other charges incident to the extension of credit as the Board may by regulation prescribe.

(4) “Creditor” means any person engaged in the business of extending credit (including any person who as a regular business practice make loans or sells or rents property or services on a time, credit, or installment basis, either as principal or as agent) who requires as an incident to the extension of credit, the payment of a finance charge.

(5) “Person” means any individual, corporation, partnership, association, or other organized group of persons, or the legal successor or representative of the foregoing, and includes the Philippine Government or any agency thereof, or any other government, or of any of its political subdivisions, or any agency of the foregoing.

Section 4. Any creditor shall furnish to each person to whom credit is extended, prior to the consummation of the transaction, a clear statement in writing setting forth, to the extent applicable and in accordance with rules and regulations prescribed by the Board, the following information:

(1) the cash price or delivered price of the property or service to be acquired;

(2) the amounts, if any, to be credited as down payment and/or trade-in;

(3) the difference between the amounts set forth under clauses (1) and (2);

(4) the charges, individually itemized, which are paid or to be paid by such person in connection with the transaction but which are not incident to the extension of credit;

(5) the total amount to be financed;

(6) the finance charge expressed in terms of pesos and centavos; and

(7) the percentage that the finance bears to the total amount to be financed expressed as a simple annual rate on the outstanding unpaid balance of the obligation.

Section 5. The Board shall prescribe such rules and regulations as may be necessary or proper in carrying out the provisions of this Act. Any rule or regulation prescribed hereunder may contain such classifications and differentiations as in the judgment of the Board are necessary or proper to effectuate the purposes of this Act or to prevent circumvention or evasion, or to facilitate the enforcement of this Act, or any rule or regulation issued thereunder.

Section 6. (a) Any creditor who in connection with any credit transaction fails to disclose to any person any information in violation of this Act or any regulation issued thereunder shall be liable to such person in the amount of P100 or in an amount equal to twice the finance charged required by such creditor in connection with such transaction, whichever is the greater, except that such liability shall not exceed P2,000 on any credit transaction. Action to recover such penalty may be brought by such person within one year from the date of the occurrence of the violation, in any court of competent jurisdiction. In any action under this subsection in which any person is entitled to a recovery, the creditor shall be liable for reasonable attorney’s fees and court costs as determined by the court.

(b) Except as specified in subsection (a) of this section, nothing contained in this Act or any regulation contained in this Act or any regulation thereunder shall affect the validity or enforceability of any contract or transactions.

(c) Any person who willfully violates any provision of this Act or any regulation issued thereunder shall be fined by not less than P1,00 or more than P5,000 or imprisonment for not less than 6 months, nor more than one year or both.

(d) No punishment or penalty provided by this Act shall apply to the Philippine Government or any agency or any political subdivision thereof.

(e) A final judgment hereafter rendered in any criminal proceeding under this Act to the effect that a defendant has willfully violated this Act shall be prima facie evidence against such defendant in an action or proceeding brought by any other party against such defendant under this Act as to all matters respecting which said judgment would be an estoppel as between the parties thereto.

Section 7. This Act shall become effective upon approval.

Approved: June 22, 1963

Source: http://pinoy-business.com/content/view/126/89/

With its efforts of integrating Social Performance Management (SPM) in the organization, Chairman of the Board- Carlos Ani, together with Managing Director/COO, Jun Perez, Manager for HO Operations, Ma. Socorro Bartolome, Corporate Planning Manager, Marlowe Baring, Corporate Planning/Marketing Officer, Patricia Marie Pelayo, Abelardo Padios, Manager for Field Operations and Regional Portfolio Officer for Southeastern Philippines, Mary Tiezel Rufin, attended the Training of Trainers on Social Performance Management (SPM) Strategy Workshop for Networks at Cebu Business Hotel last October 25-28, 2010.

This project, spearheaded by Oikocredit, the Microfinance Council of the Philippines, Inc. (MCPI), and Imp-Act Consortium, serves to build SPM capacity for (1) awareness and understanding of social performance and- social performance management, (2) training of trainers and certification through various methodologies or tools available, SPM strategy workshop, social audits (QAT, SPI-Cerise, etc.), and (3) training and mentoring program in the course of engagement with organizations (whether microfinance-oriented cooperatives, rural banks, NGOs, etc.) and continuous development and upgrade training.

The four-day workshop became a meeting of minds with the attendance of Djan Angelo Capinpin, Executive Assistant and Jennifer Rodil, Program Officer from Mindanao Microfinance Council, Evelia Tizon, MICOOP Program Manager and Rodolfo Villanueva, Team Leader from NATCCO and Manolita Gonzales, SPM/CB Coordinator from Oikocredit.

Participants underwent comprehensive adult learning through practice facilitation and mock delivery sessions assigned. As part of the certification process, a written test of the TOT workshop was given to evaluate participant knowledge of SPM process and course content. Still, the participants will undergo a careful process on the way to becoming a certified Master trainer recognized by Imp-Act Consortium.

SEEDFINANCE, with Carlos Ani- leading the SPM committee, is on its way to full implementation of SPM in its own organization. In line with the TOT’s goal to develop a cadre of trainers among networks who will deliver the SPM strategy Workshop to their MFI partners, SEEDFINANCE is starting to instill in itself first the value and significance of SPM before its officers teach what they are about to preach among their partner MFIs.

Equipped with SPM materials, knowledge and skills from the TOT, SEEDFINANCE’s participants have taken what they have learned to provide a framework for a process of social performance management that is mission-anchored, systematic, client-focused, balanced and easily implemented for their organization as well as the entire community they are serving.

The annual National Stakeholders Conference held last October 20-21, 2010, at Crown Regency Residences, was attended by almost 200 participants from its 66 partner-financial-institutions (PFIs) nationwide and other networks and partners both local and international. Strategic and participating partners, such as SMART Communications Inc., Coop Life Insurance and Mutual Benefit Services (CLIMBS), ENCASH, LACCCAS Alliance Services Corporation, CARE, MICROENSURE, PLDT KaAsenso, Oikocredit, Planet Rating, Microfinanza and the National Credit Council, made the entirety of the conference organization.

The Micro No More Universe took off with a 3D video presentation, a glimpse of the latest developments SEEDFINANCE has accomplished this year, 2010. With their 3D glasses on, the participants have seen a whole new universe of innovative, responsive, accessible, reliable, and affordable development finance and socio-economic initiatives at building economically self-sustainable communities.

SEEDFINANCE continues to innovate in development finance which has enabled MFIs to progress and reach scale in operations. Chairperson, Carlos Ani, reported the corporation’s success in (1) increasing the capital base of the company, (2) increasing further loan portfolios through the assistance of new funding partners, such as Planet Finance (France), ResponsAbility (Switzerland), Developing World Markets (USA) and SNS (Netherlands), (3) developing new financial products such as FINEX loan, group salary loan, and ATM loan, (4) developing new services such as Cooperative ATM Savings Account (CASA) services and the cross selling of micro-insurance, life insurance and non-life insurance products, (5) further improving ATM deployment and mobile banking projects and (6) improving package of technical and consultancy services to their partners.

The two-day conference was divided into five plenary sessions, in the context of mobile banking, social performance, risk management and empowerment of networks. Strategic partners presented their efforts in empowering economically self-sustainable communities. Maybelle Santos, Head of BOP Team of SMART Communications shared a video presentation of their Island Activations Program in cooperation with SEEDFINANCE. Eric Severino of ENCASH ATM Network and Leo Marquez of LACCCAS Alliance discussed further their efforts of making ATM issuing services more convenient and the potential of Mobile Teller Machine (MTM) for partner financial institutions (PFI), respectively.

Meldy Pelejo, social performance management (SPM) Coordinator of Oikocredit, Blandine Pons of Planet Rating and Marco Boa of Microfinanza have also presented financial and social missions in the context of Social Performance Management (SPM). With partner-MFIs recognizing the need to reconcile their sustainability requirements in line with their social mission, SEEDFINANCE, in cooperation with Oikocredit and the Microfinance Council of the Philippines will further its gain with the implementation plan of their SPM.
The presence of Fermin Gonzales, President and CEO of CLIMBS Insurance, and the representative of William Martirez Country Manager of MicroEnsure, took the time to let the participants get ready for the black holes of MSME finance through risk management. With SEEDFINANCE, partnering with one of the largest cooperative insurance provider- CLIMBS, thru the new SEAD-ASSURE subsidiary of SEEDFINANCE, the partnership will not only formalize, but more so expand, the reach of micro-insurance to more partner MFIs and their end-clients. Through all these, SEEDFINANCE is making us see the universe see in one perspective that sooner or later, there will be MICRO NO MORE.

From Islands Activation Program, SMARTowns, Hosted Core Banking Services, SEAD-ASSURE, SEEDFINANCE responsive products and services, sustainable development and social performance, there is indeed a call to action. Moving forward, the Micro No More Universe has posed a challenge to maintain sustainability without sacrificing its mission and to continually make MSME and development finance more accessible, more reliable, and more affordable to end-clients.

Gathering together partner MFIs, along with strategic partners, into one unifying event, is indeed another milestone for SEEDFINANCE. With their efforts to make microfinance an effective tool in poverty alleviation, they are empowering networks to help build economically self-sustainable communities, enabling end-clients to rise beyond poverty and be MICRO NO MORE.