ASA Philippines, a microfinance NGO, recently announced it will issue PHP 2 billion (USD 40 million) in bonds to fund new and existing projects through 2021. One of these is lending to women entrepreneurs in amounts from PHP 6,000 (USD 119) to PHP 10,000 (USD 199) with a flat interest rate of 15 percent for six months. ASA staff will visit borrowers weekly to collect payments in the amount of PHP 50 (USD 1) for each PHP 1,000 (USD 20) borrowed.
Established in 2004, ASA has about 1.3 million active borrowers and about 900 branches as of 2017. Also as of 2017, its loan portfolio is PHP 9.1 billion (USD 180 million), and it has total assets and properties of PHP 10.5 billion (USD 210 million). As of 2015, it reported total deposits of USD 66.4 million. In addition to loans and savings, ASA provides insurance, business development training and academic scholarships for clients and their children in the Philippines.
By Phoebe Rorke, Research Associate
Sources and Additional Resources
Quest to end ‘5-6’ lending scheme in PHL gains traction
ASA Philippines Foundation
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