CARD, Aboitiz Foundation’s adopt-a-branch support 3,400 entrepreneurs

More than 3,000 entrepreneurs from Benguet, Davao City, and Albay get microfinance assistance from the Adopt-a-Branch program of CARD, Inc. and Aboitiz Foundation.

The Adopt-a-Branch program aims to provide easy, affordable access, and friendly experience to microfinance clients who come from rural and unbanked areas.

In February 2016, the Aboitiz Foundation funded P10 million for the operations of the two unit offices of CARD, Inc. in Calinan, Davao City and Tiwi, Albay. After two years of its successful implementation, the program was rolled out in La Trinidad, Benguet.

“CARD, Inc. has been operational in these areas and we are privileged to be working with the Aboitiz Foundation. This collaboration means more resources will be made available for our microfinance clients, which would help them finance their respective businesses,” said Jocelyn Dequito, executive director of CARD, Inc.

The program’s operation is patterned after the standard microfinance procedures of CARD, Inc. where the loanable amount ranges from P1,000 to P150,000 with affordable interest rate and flexible loan terms of up to one year. As of September 2018, the program has a total of P57.35 million loan disbursement and 100% repayment rate.

“Our partnership with CARD Inc. is aligned with the Aboitiz group’s promise of advancing business and communities by co-creating safe, empowered, and sustainable communities. It enables us to provide more people with the opportunities to increase their income and lead better lives,” Aboitiz Foundation First Vice President and Chief Operating Officer Maribeth Marasigan said.

Aside from the financial support, Aboitiz Foundation also provides enterprise development training programs to its beneficiaries. Soap making and pottery are among the skills training sessions conducted by the Aboitiz Foundation and CARD, Inc. for its clients in Calinan and Tiwi, respectively.

“Capacity building is crucial in development work. We are doing this at CARD to make our microfinance approach more holistic and inclusive,” emphasized Dequito.

“For two years, the program and collaboration with CARD, Inc. was able to reap positive results. We will continue to drive change for a better world and this program is one of the efforts that we value,” said Marasigan. The Aboitiz Foundation expects to reach 1,500 more entrepreneurs as it adopts another CARD, Inc. branch in Capaz, Tarlac by the end of this year.

Dr. Jaime Aristotle B. Alip, founder and chairman emeritus of CARD Mutually Reinforcing Institutions (CARD MRI), also expressed his sincere gratitude to the support of the Aboitiz Foundation to CARD, Inc. “Thirty years of empowering communities is already a milestone worth celebrating. Congratulations, Aboitiz Foundation and thank you for joining us in battling poverty in the country,” Dr. Alip added.

CARD MRI is a group 21 development-oriented organizations including CARD, Inc. that aims to eradicate poverty in the country by providing microfinance and community development services.

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About Aboitiz Foundation

The Aboitiz Foundation is the corporate foundation of the Aboitiz Group that was established in 1988. Its purpose is to drive change for a better world by advancing business and communities through programs in education, enterprise development, and the environment. Since its inception in 1988, the Foundation’s corporate social responsibility (CSR) interventions have evolved from one-time donations to carefully designed programs that empower its beneficiaries to pursue their aspirations.

Today, the Aboitiz Foundation, through the Aboitiz business units, develops and implements “CSR 2.0” projects that aim to co-create safe, empowered, and sustainable communities. These CSR 2.0 projects are aligned with the Group’s core competencies, are scalable nationwide, and create deeper social impact on the communities and beneficiaries they serve.