The power of three – PCFC President & CEO Edgar V. Generoso, Cooperative Rural Bank of Bulacan (CRBBI) General Manager Nestor Custodio and a hardworking micro-entrepreneur and CRRBI client Ernestina Sanchez showcased their charm and wit as they shared their microfinance experiences over the National Broadcasting Network (NBN) Channel 4 television show People’s Government Mobile Action (PGMA) last May 18, 2009 in a national live broadcast hosted by the seasoned media personality and host Alan Allenigue.
The process flow on the delivery of microfinance services was outlined and explained by Mr. Generoso as he expounded the interrelationship of PCFC as a wholesale government microfinance institution, CRBBI as PCFC’s program conduit which serves as the program retailer, and Ms. Sanchez as the end-client beneficiary.
Ms. Sanchez, a native of Malolos, Bulacan and a mother of two children, is the epitome of a hardworking entrepreneur who wants to raise the bar in her chosen field of business. Her fervent ambition in life is to save for her children’s education. Looking back, Ms. Sanchez recalled she was left with no choice but to think of a small business to support for the financial needs of her family. Her husband’s measly income was not sufficient for their basic needs, much less, to support the education of her children.
With a small seed capital back then, she was engaged in a buy and sell of Japanese corn. However, despite so much effort and hardwork she spent but due to lack of capital, she could hardly muster enough income to support the studies of her children.
One day, through a friend, she learned that CRBBI was into microfinancing and was willing to lend out for her additional capital. She grabbed the opportunity and eventually received her first loan of P6,000.00 in which she spent P3,000.00 to expand her existing Japanese corn business and the remaining P3,000.00 she ventured into tinapa (smoked fish) business.
Ms. Sanchez bucked the odds through prayers, hardwork, patience and frugality. Her business grew and is still growing. She is now sending her children to reputable schools and started to enjoy the simple comforts of life.
“I was exposed to the hardships early in life, but this has served as a motivation for me to strive for a better quality of life,” she said. Maintaining a good record with CRBBI, she has recently received a loan amounting to P20,000.00 for her 3rd cycle and expecting a bigger amount in the next cycle as she turns her 2nd year with the bank.
Having been in the microfinance service delivery for almost 14 solid years, PCFC has evolved effective strategies to improve the productivity of marginalized families. Its patience and aggressiveness in microfinance implementation resulted in numerous success stories of micro-entrepreneurs whose lives have been changed from abject poverty to a life of comfort and prosperity.