Microfinance group to help women become entrepreneurs

A MICROFINANCE organization is giving women an opportunity to use their potential to start their own business.

Edgardo Mercedes, executive director of Kabalikat para sa Maunlad na Buhay, Inc. (KMBI), said yesterday that one could open a store with a small capital.

The capital is not the primary concern but the potential to own a business.

“They should have that drive and interest to be in a business before they could start one,” Mercedes said.

Many people think that running a business is easy especially when you have the money but they are wrong, he said.

KMBI, which started in 1986, has seen many success stories of entrepreneurs who started from scratch and grew their business.

Mercedes said if your interest lies in sewing, then you are likely to have your own tailoring shop.

He said an entrepreneur should be focused on the kind of business she wants.

KMBI has helped many underprivileged women in the country providing them business capital, trainings and character formation programs.

Financial support and loans are given to qualified applicants.

The loan is released after a five-day training program, which will evaluate the potential of the entrepreneurs.

A group with a minimum of 30 members will undergo the screening test and will later be granted P4,000 each as starting capital.

With this amount, sari-sari stores, carinderias, market vendors could live up the basic products they need to sell, said Reginold delos Reyes, KMBI resource mobilization manager.

He said KMBI aims to assist small businesses with great potential but it has to be a step-by-step process.