All about ASA Philippines Foundation ASA Philippines Foundation is a non-stock, non-profit corporation registered under the Securities

and Exchange Commission on July 9, 2004. It was founded by Ambassador Howard Dee and Mr. Kamrul Tarafder, with the financial assistance of Assisi Development Foundation and the Benigno S. Aquino Jr. Foundation, in order to assist the enterprising poor through microfinance. The principal office of the foundation is located in Ortigas Center, Metro Manila. The first branch that ASA started its operations with was in Camarin, Caloocan. With services such as loan, capital build-up (savings), insurance benefits and other benefits such as business management trainings, and academic scholarships (for the children of the clients), the relatively new foundation has already expanded its services nationwide catering to more than 300,000 clients who are called by ASA as Microentrepreneurs. Vision We are devoted to the poor for them to fight against growing poverty with the most cost-effective sustainable microfinance services and with the highest portfolio quality and management efficiency in order to eventually grow as the best-managed and lowest-charging microfinance service provider in the Philippine market. Mission ASA Philippines Foundation has made its commitment to three sectors. The first is a commitment to the marginalized poor sector for which the foundation exists. The second commitment is to the staffs who are dedicated to the foundations mission objectives. The third commitment is to the incorporators and patrons to make the program the best and most self-sustainable microfinance institution in the country. And therefore our missions are: 1. To deliver the most cost-effective, efficient and client-responsive microfinance service to the entrepreneurial poor at the cheapest rate. 2. To create a best place to work, where every staff member has the chance to live in dignity, develop a career path within the foundation and have the satisfaction of changing the quality of life of poor people and of themselves. 3. To be self-sustainable and be the best managed microfinance institution in the Philippines. Board of Trustees Mr. Edward S. Go - Chairman Ms. Victoria A. Dee - Member/Treasurer Mr. Rafael C. Lopa - Member Ms. Imelda M. Nicolas - Member Mr. Kamrul H. Tarafder - Member/President

(Source: http://www.asaphil.org/; http://tinyurl.com/boodydh; http://tinyurl.com/coo9lb2)

Microfinance Program and its Objectives From a narrow banking perspective, microfinance is a form of financial services composed of uncollateralized small loans, small savings (CBUs) and micro-insurance services products for the livelihood activities of the poor in order to generate employment and income for the family. From a broader social development and poverty alleviation perspective, microfinance is a tool that provides financial services to the poor by which self-employment is generated and family income is increased in order to improve the quality of life of the marginalized sector. Microfinance is not simply about providing financial services, it is also about helping improve the life quality of target communities. It has two bottom lines: one is financial and the other one is social. Therefore, the objectives of the microfinance program of ASA Philippines Foundation are: 1. To ensure cheaper credit access to the poor communities through an appropriate and innovative alternative financing system; 2. To provide financial support to the poor communities for them to produce goods and services; 3. To establish the right of women at all levels through their involvement in income-earning activities and to facilitate their involvement in participatory decision-making processes; 4. To increase household CBU (savings) and income and to create opportunities for selfemployment thereby reducing poverty and establishing the equality between men and women in society; 5. To eliminate local moneylenders who charge exorbitant interests; 6. To create a pressure on the microfinance market to reduce the interest rate in order to make it affordable to the poor clients; 7. To reduce dependence on charity and grants at all levels; and 8. To contribute to the socio-economic development of the urban and rural poor communities through income generating to improve the quality of life through a cost effective selfsustainable microfinance delivery and in order to access by the poor to social equity.

(Source: http://www.asaphil.org/; http://tinyurl.com/boodydh; http://tinyurl.com/coo9lb2)