Pagasa Philippines Lending Company Inc. turns 10 this June.
In June 2007, ASA International established PPLCI, its first affiliate outside of Bangladesh. PPLCI was registered in the Securities and Exchange Commission (SEC) as a Lending Company providing microfinance loan services to the poor under the Lending Company Regulation Act.
Expansion of Operations
Since its establishment, Pagasa has grown into a formidable microfinance industry player providing quality loan services to 262, 448 members in 16,373 groups in 250 branches nationwide.
With a total loan outstanding of PhP 1,709,544,497, Pagasa has come a long way since it started its operation in 2007. It is nearing its initial goal of setting up 350 branches to serve half a million people by 2020. In the first quarter of 2017 alone, eighteen (18) new branches were opened: fifteen (15) of which are PPLCI branches and three (3) are PMPFI branches.
Cognizant of its nature and mandate as a microfinance company and guided by its social mission of “establishing a poverty-free society through microfinance,” Pagasa has been making strides in ensuring that its operation, ultimately serve the poor as it grows its portfolio and expands. Social performance management is just as important as the financial performance management aspect of the company.
In this spirit, the company has committed to uphold the Universal Standards of Social Performance, SMART Campaign’s Client Protection Principles, and just recently, affirmed its commitment to social and environmental governance through a set of policies directed towards protecting the environment; elimination of sexual harassment; preparing for emergencies; upholding integrity through identification of exclusion list, fighting anti-money laundering, and upholding whistle blower rights; eliminating discrimination; and developing proactive engagement with its stakeholders.
These policies are directed towards making the management more responsive not just to the clients but to the employees as well.
In 2016, Pagasa also intensified its corporate social responsibility with the initial implementation of the One Scholar per Branch Program that benefited 30 children of our members. The beneficiaries were given scholarship grant that helped them get through the final year of their studies in college or in a vocational course.
In 2017, the program was expanded and the company hopes to provide scholarships to 100 more members’ children.
A decade of development
All these efforts are directed towards ensuring that our client, women and men alike, are served better. A decade is a long time. The challenges faced by the company in making a dent in the Philippine microfinance industry have been plenty, but, PPLCI brave the challenges with the entrepreneurial poor Filipinos who hope with us in mind. Now more than ever, PPLCI is steadfast in fulfilling its social mission of establishing a poverty-free society through microfinance, through decades to come.
Join us in the continuing journey of the company to serve the poor and the marginalized. Join us as we create opportunities for the poor in decades to come.
Eighteen (18) new branches were opened during the first quarter of 2017, fifteen (15) of which are PPLCI branches and three (3) are PMPFI branches.
In North Luzon Division, new branches were opened in Tuguegarao – Team 1 last January 1, Ilagan last February 1, and Tuguegarao – Team 2 last March 1. These branches are under PMPFI Ilagan Region.
In South Luzon, PPLCI branches were opened in Daet last April 1, Bulan, Labo , and Sorsogon City last March 1, Calabanga last February 1, and Sipocot last January 1. The opening of these branches signify the continued growth and presence of Pagasa in the Bicol Region having a total of 13 branches established from 2016. In light of the new developments, a restructuring of region has also ocurred. Bicol now has three regions, Sipocot, Sorsogon and Ligao.
Eight (8) new branches have also been opened in Visayas adding to the twenty-five branches opened last year. This marks Pagasa’s entry into Cebu and Negros Oriental. The new branches in Visayas are Dumaguete opened on January 1, Bugasong on January 4, Guihulngan, Bayawan and Bais opened on February 1, and Tanjay, Lapu,-Lapu and Cebu opened on March 1.
From twenty-five (25) branches as of December 2016, Visayas Division now has thirty-three (33) branches. 2 new regions were also created, Cebu and Dumaguete to better manage the operations of the newly opened branches. All the new branches fall under Dumaguete Region except for Lapu-Lapu and Cebu which falls under Cebu Region and Tanjay which falls under La Carlota.
Meanwhile, in South Mindanao, Calumpang – Team 2 was opened last January 1 making the total number of branches to forty-three (43).
This expansion is well within the goal of reaching out to more entrepreneurial poor in the region. As per management plan, twenty-three (23) new branches will be opened in 2017. At present, PPLCI and PMPFI have a combined 260 total number of branches nationwide. It is hoped that at the end of 2017, the total number of branches will be two-hundred sixty-five (265).
Pagasa Philippines awarded twenty-three (23) scholars a grant of PhP 20,000.00 each for the second semester of 2016-2017 for its newly-launched “One Scholar per Branch Program.”
The scholars were identified from among 30+ nominations who have met the criteria from across the branches all over the Philippines. The goal of the program is to help borrowers provide for the education needs of their children.
North Luzon scholars are Camille Manalastas (Gapan) and Renzol Timbol Lugtu (Mabalacat). For NCR: Jay-Arr P. Dasigan and Mark Lester Pidlaoan (Novaliches), Rick Charles R. Basilio (Paco), Helen Asis Rieza (Pasig Rosario), Ma. Delmar Bigata (Taytay) and Mario Maligon Javier (Valenzuela)
South Luzon scholars are Glaine Daly C. Estrella (GMA-Cavite), Cathlyn G. Ordonez (Imus) Donald Kandog and Marian Joyce Manalo (Las Pinas), Merck Steven Lu (Lucena), Nicky C. Salvador (Naic), and Micko Panganiban (Silang).
North Mindanao scholars are Shiela Mae Villorejo (El Salvador, Rapha Jamero (Carmen), Edmon Plaza Cuares (Trento) and, Bernardo B. Sabuero (Cabadbaran).
South Mindanao scholars are Jan Paul Satam (Kidapawan), Vera-Ellen Diamante (Padada), Irish Olenares (Surallah) and Josie Marie Shaira Maghari (Tibungco).
Josie Marie Shaira Maghari, daughter of member Maria Rossini Maghari of Tibungco branch wrote a heartfelt letter as part of the application. An excerpt reads “(Pagasa) has been a big help for me and my family especially for my…education. Pagasa has been a very big contributor to our success, helping my family throughout the years…Thank you Pagasa for the continuous help and inspiring people to fulfil our dreams even with financial difficulties.”
Each branch in operation for at least three years with clients of 1100 and above were asked to nominate a scholar. The nominees are sons or daughters of clients who have been with Pagasa for at least three (3) years with good loan repayment records. The nominees are graduating college or technical-vocational students with good/passing grades.
The Client Services Committee, in-charge of the program, hopes to receive more nominations completing the 50 scholars originally targeted. Pagasa has allotted PhP 2 million for the program.
Pagasa Philippines Lending Company Inc. wishes all our women members, staff and officers Happy International Women’s Day 2017!
Sharing with you a poem by Nancy Smith entitled “For Every Woman” for today’s celebration:
For Every Woman
By Nancy R. Smith (copyright 1973)
For every woman who is tired of acting weak when she knows she is strong,
there is a man who is tired of appearing strong when he feels vulnerable.
For every woman who is tired of acting dumb,
there is a man who is burdened with the constant expectation of “knowing everything.”
For every woman who is tired of being called “an emotional female,”
there is a man who is denied the right to weep and to be gentle.
For every woman who is called unfeminine when she competes,
there is a man for whom competition is the only way to prove his masculinity.
For every woman who is tired of being a sex object,
there is a man who must worry about his potency.
For every woman who feels “tied down” by her children,
there is a man who is denied the full pleasures of shared parenthood.
For every woman who is denied meaningful employment or equal pay,
there is a man who must bear full financial responsibility for another human being.
For every woman who was not taught the intricacies of an automobile,
there is a man who was not taught the satisfactions of cooking.
For every woman who takes a step toward her own liberation,
there is a man who finds the way to freedom has been made a little easier.
Management approves adjustment/moratorium of amortization for borrowers affected by natural calamities
- Typhoon Pablo– Typhoon Pablo hits the Mindanao Region on December 2012 leaving more than 50,000 families homeless.
Eight (8) branches of the Corporation had been affected mainly by the typhoon- Iligan 1 & 2, Tandag, Cagayan de Oro 1 & 2, Nabunturan, Monkayo and Kapalong, and some areas in other branches.
The Management has approved the adjustment of amortization to all affected borrowers on December 2012.
- Flood in Mindanao– Mindanao Region has yet to recover from the devastation of Typhoon Pablo on December 2012 which killed hundreds of people and leaves more than 50,000 families homeless.
Sometime on January 2013, people of Mindanao experienced another devastation of nature through flooding and landslide affecting the borrowers of the Corporation in several branches.
- Fire Razed at Cainta- On January 17, 2013 a fire broke out in a residential area at Cainta that razed some 200 residential houses.
About six (6) groups of Pasig Rosario Branch are located in the affected area which borrowers/members’ houses and businesses were burned and now temporarily staying at health center and covered court.
With this incident a one- month moratorium of amortization is given to all affected members.