Micro Loan Project

Poverty is one of the major challenges in developing countries in general and in the southern Philippines in particular. Many countries, including the Philippines, have used different interventions to eliminate poverty. One of the methods that has worked well is the use of a micro-loan finance program because MCI believes economic empowerment is critical for the well-being of the poor. Freedom from hunger, an adequate income, and social justice are central issue in the lives of the poor. One of the UN officers said that micro credit has become one of the key driving mechanism towards meeting millennium development goals. The MCI mission is to alleviate poverty and to create self- sufficiency by supporting impoverished entrepreneurs who have the capacity to set up income generating activities that will increase their earning power and improve their social status. MCI's micro-loan initiatives will not only bring credit to the poor, they will also teach them to make good financial decisions , increase profit, and even build some savings. MCI’s primary goal is to provide the financial resources to borrowers who do not have collateral to enable them to develop their existing skills, to increase their income earnings, or to enable them to get the loan from the bank. MCI gives borrowers a chance to begin with small loans and then to have opportunities to access bigger loans based on their repayment history. The primary beneficiaries of our programs are disadvantaged. low-income minority entrepreneurs, who suffer disproportionately from poverty. To access MCI and services, all interested applicants are encouraged to complete the applicant profile form, attach supporting documentation, and submit it for review. We will notify the applicant when we receive the application. All completed and submitted applications will be reviewed, and if they are eligible for the services offered by the program, further we will provide instructions to enable the recipients to access the loan.

The goal of MCI’s micro loan includes:

  • Economic empowerment for poor wellbeing to reduce the power at the family and Community level
  • Improve the social and economic status of the poor
  • Improve their financial skills how to manage their finance
  • Increase their good credit record
  • Educate them on basic finance and business development
  • Develop marketing strategies, small business management and income generation.

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