People’s Credit and Finance Corporation (PCFC) Microfinance Program

Program Title: People's Credit and Finance Corporation (PCFC) MICROFINANCE PROGRAM Program Objective: To provide the poor with access to livelihood credit and other microfinance services through accredited partner microfinance institutions (MFIs). Eligible Borrowers / Sub-Borrowers: * Borrowers (Accredited MFIs) – Non-Government Organizations (NGOs), Cooperatives, Rural and Cooperative Banks, Thrift Banks duly organized, with either a track record of lending operations or with proven capabilities in implementing microfinance programs that can augment the income of targeted poor clients. * Sub-Borrowers – Households below the poverty threshold level as defined by the National Economic Development Authority (NEDA) and as identified by the Government’s Social Reform Agenda through the National Anti-Poverty Commission (NAPC). Loan Purposes: * Borrowers/MFIs o Investment Credit – a revolving credit line for relending to sub-borrowers to finance their livelihood projects. o Institutional Credit – for capability building activities of MFIs. * Sub-Borrowers – working capital for income generating activities (livelihood). Terms/Requirements: Loan Amount: * Borrowers/MFIs – Based on evaluation/credit needs. * Sub-Borrowers in Groups or Centers or Individuals – Up to a maximum of P150 Thousand depending on sub-borrowers’ requirements and cash flows. Interest Rate: * Borrowers/MFIs o Investment Credit: 10-12% p.a. based on interest guidelines + 1% service charge. o Institutional Credit: 3% per annum + 1% service charge. * Sub-Borrowers – Subject to guidelines of the MFI Borrowers. Maturity / Repayment: * Borrowers/MFIs Short: (1) One year up to (2) two years Medium: (3) Three years Long: (4) Four years * Sub-Borrowers – Six months to one year term; normally payable weekly or as per policy of the MFI. Security: * Investment Credit; Deed of Assignment of Promissory Notes (PNs) of Sub-Borrower – clients and underlying collaterals, if any. * Institutional Credit; Mortgage of assets to be acquired from loan proceeds, if any. Sub-Borrowers – Essentially no collateral. Program Partners or MFIs: Please inquire from the following PCFC officials. Contact Details: Regions 1, 2, 3 and CAR: Atty. Jessica A. Barrun AVP-AMD 1 Phone: (632) 752.3745 local 120 Mobile: 0917.574.9915 Regions 4A, 4B, 5 and NCR: Mr. Erwin M. Idong AVP-AMD 2 Phone: (632) 752.3745 local 130 Cel No. 0917.574.9914 Regions 6, 7, and 8: Mr. Ariel M. Tatlonghari AVP-AMD 3 Phone: (632) 752.3745 local 140 Cel No. 0917.574.9912 Regions 9, 10, 11, 12 Caraga, and ARMM: Mr. Dennis A. Mono AVP-AMD 4 Phone: (632) 752.3745 local 150 Cel No. 0917.574.9968 Fax: (632) 325.0448 E-mail: info@pcfc.ph URL: www.pcfc.gov.ph PEOPLE’S CREDIT AND FINANCE CORPORATION (PCFC) 2F, Accelerando Building, 395 Sen. Gil J. Puyat Avenue, Makati City

Source: Business Diary Philippines