COMPANY OVERVIEW
EXPERIENCE YOU CAN TRUST
SEEDFINANCE is a financial institution that focuses on wholesale financing of Filipino microfinance organizations and providing loans to Filipino small enterprises. They work with over 60 partners in the Phillipines consisting of "cooperatives, rural banks, and microfinance NGOs."
PRODUCTS/SERVICES
FEATURED NEWS
Truth in Lending Act (Republic Act No. 3765)
AN ACT TO REQUIRE THE DISCLOSURE OF FINANCE CHARGES IN CONNECTION WITH EXTENSIONS OF CREDIT.
(Related posts: The Truth in Lending Act explained; Regulating the Business of Lending – Part 1 and Part 2)
Section 1. This Act shall be known as the “Truth in Lending Act.”
Section 2. Declaration of Policy. It is hereby declared to be the policy of the State to protect its citizens from a lack of awareness of the true cost of credit to the user by assuring a full disclosure of such cost with a view of preventing the uninformed use of credit to the detriment of the national economy.
SEEDFINANCE’s Mission to Practice: SPM
“To work closely with, nurture, and empower deserving MFIs, in order to deliver the promise of reliable access to affordable financial and business development services to the growing and increasingly-becoming-bankable MSME, low-income, and marginalized sectors”. This is SEEDFINANCE’s mission. Being an advocate of microfinance, there is a need to inculcate first from within their organization social performance to carry out its mission as a microfinance lender.
With its efforts of integrating Social Performance Management (SPM) in the organization, Chairman of the Board- Carlos Ani, together with Managing Director/COO, Jun Perez, Manager for HO Operations, Ma. Socorro Bartolome, Corporate Planning Manager, Marlowe Baring, Corporate Planning/Marketing Officer, Patricia Marie Pelayo, Abelardo Padios, Manager for Field Operations and Regional Portfolio Officer for Southeastern Philippines, Mary Tiezel Rufin, attended the Training of Trainers on Social Performance Management (SPM) Strategy Workshop for Networks at Cebu Business Hotel last October 25-28, 2010.
This project, spearheaded by Oikocredit, the Microfinance Council of the Philippines, Inc. (MCPI), and Imp-Act Consortium, serves to build SPM capacity for (1) awareness and understanding of social performance and- social performance management, (2) training of trainers and certification through various methodologies or tools available, SPM strategy workshop, social audits (QAT, SPI-Cerise, etc.), and (3) training and mentoring program in the course of engagement with organizations (whether microfinance-oriented cooperatives, rural banks, NGOs, etc.) and continuous development and upgrade training.
Discovering a Whole New World in the Micro No More Universe
SEEDFINANCE’s advocacy to be Micro No More continues to soar high; even extending its scope to the universe and in this context, their social mission, to help micro-enterprises, has expanded to assist the small and medium enterprises. At the3rd National Stakeholders Conference, The Micro No More Universe, partner financial institutions gathered together to see in their own perspectives, the future, that they are as a whole, an empowered network where everything can and will be possible.
The annual National Stakeholders Conference held last October 20-21, 2010, at Crown Regency Residences, was attended by almost 200 participants from its 66 partner-financial-institutions (PFIs) nationwide and other networks and partners both local and international. Strategic and participating partners, such as SMART Communications Inc., Coop Life Insurance and Mutual Benefit Services (CLIMBS), ENCASH, LACCCAS Alliance Services Corporation, CARE, MICROENSURE, PLDT KaAsenso, Oikocredit, Planet Rating, Microfinanza and the National Credit Council, made the entirety of the conference organization.
Soliman Unfair to the president
SEEDFINANCE Program for the Poor
In marked contrast to Soliman’s promotion of mendicancy is that of the ongoing plan of Seedfinance Corp., a microfinance advocate, that is making inroads in the fight against poverty. We attended a strategy meeting in Cebu last week of Seedfinance and its partners, which include rural banks, microfinance firms, cooperatives and foreign nongovernment organizations, and we cannot but feel proud about the way they empower the poor, so unlike the dole-out mentality that Soliman fosters. Under the Seedfinance concept, they fund the programs of rural banks, co-ops and microfinance that are meant to help the poor.
According to Carlos Ani, Seedfinance chairman, the firm is a microfinance lender that aims primarily to bring the benefits of microfinance to microenterprises, self-employed workers, family-based and community-based food production and other livelihood activities through the extension of financial, technical and business-development facilities to workers’ associations, cooperatives, rural banks, microfinance nongovernment organizations, people’s organizations, and commercial, industrial and agricultural enterprises, corporations, partnerships and proprietorships.
Read more -> http://businessmirror.com.ph/home/opinion/2966-soliman-unfair-to-the-president
Smart partners with Seedfinance
MANILA, Philippines – Smart Communications Inc. (SMART) has collaborated with SEEDFINANCE Corp., a provider of wholesale credit to Filipino microfinance institutions (MFIs) and small enterprises, to equip island-based MFIs with mobile-based financial products and technologies that will allow them to send and receive funds using SMART mobile phones.
Dubbed as the Islands Activation Program (IAP), the initiative utilizes Smart Money as a fast and secure alternative to send and receive funds in islands or areas where there is little or no access to formal financial services, and will benefit members of close to a hundred MFIs in various parts of the Philippines.
SEEDFINANCE works with 73 cooperatives with an aggregate clientele base of 1.2 million poor and low-income people.
It signed an agreement with ENCASH to install automated teller machines (ATM) with allied cooperatives for the speedier and more secure receiving and dispensing of cash.
SEEDFINANCE chairman Carlos Ani said in a press briefing that the potential for the deployment of ATMs and starting mobile banking initiatives is immeasurable.
Read more -> http://www.philstar.com/Article.aspx?articleId=611701&publicationSubCategoryId=74
Encash’s advocacy
Encash, owner of a network of ATMs servicing hard-to-reach areas in the countryside, and Seedfinance, a nongovernment organization providing financial services to 61 member-cooperatives, will sign a memorandum of agreement for the country’s first-ever Hosted Core Banking System (HCBS) at the Top of the Citi, Citibank Tower, Valero Street, Makati. The HCBS will provide advanced savings deposits accounting for cooperatives and allow a platform to serve the bottom-of-the-economic-pyramid, that include financial inclusion and advanced financial services
This looming partnership between Encash and Seedfinance establishing the HCBS will enable cooperatives to offer financial services that before were enjoyed only by large-bank users. When running full steam, the HCBS will be offered to all cooperatives, countrywide.
Also, since the HCBS will be interfaced to the Encash ATM switch, which, in turn, is connected to the MegaLink switch, cooperative cardholders will eventually be able to withdraw funds from any ATM in the country. The business impact of the tie-up is expected to alter the banking landscape with a hitherto unheard-of banking innovation.
Read more -> http://www.businessmirror.com.ph/home/opinion/1008-sober-take-on-pag-ibig-row
ATM developer ENCASH eyes foreign partners for expansion
MANILA, Philippines – Independent ATM developer ENCASH is in talks with potential foreign investors for a strategic partnership as the outsourcing of automated teller machines
(ATMs) remains in huge demand, the company’s top executive said.
ENCASH specializes in outsourcing ATM services and its accompanying infrastructure, mainly targeting thrift and rural banks, cooperative banks and cooperatives.
Eric Severino, ENCASH chief executive officer said among the prospective foreign investors are Microvest (USA), Planet Finance (France), Responsibility (Switzerland), Developing World Markets, SNS and Oikocredit.
To grow faster, we need a strategic partner or partners,” he said in a press briefing yesterday.
A member of the MegaLink network, ENCASH has already deployed 256 ATMs and registered transactions worth more than P5 billion at the end of August 2010.
The outsourcing specialist is aiming to hit the 300 ATM mark by the end of 2010, and double this year’s output next year.
Recently, it signed an agreement for the initial fielding of several ATMs to cooperatives allied with SeedFinance, a specialized financing firm with principal focus on microfinance institutions (MFIs), including rural banks and cooperatives.
SeedFinance is currently working with 73 MFIs with an aggregate clientele base of 1.2 million.
Read more -> http://www.philstar.com/Article.aspx?articleId=610228&publicationSubCategoryId=66
Seedfinance Corporation, Philippines – Investment News
The Philippines is an archipelago of 7,107 islands. With an estimated population of about 92 million people, the Philippines is the world’s twelfth most populous country. 40% are considered poor. Poverty is concentrated in rural areas and in the sprawling urban slums. Considering the nature of employment and business in the Philippines, the presence and availability of microfinance is vital: 97% of total enterprises in the Philippines are micro-enterprises; 4.1 million families who belong to the lowest income strata are engaged in micro-enterprise activities, and many of the poorest manage at least two businesses. Even though there has been strong government support to develop the microfinance industry throughout the country, only 33% of the people concerned are reached by microfinance.
In April this year, responsAbility gave its first loan to Seedfinance Corporation. Seedfinance Corporation is an apex institution, which provides financial services to small microfinance institutions (MFIs), farmers’ organizations and small and medium-sized enterprises (SMEs). Given their size and small-scale operations, these institutions are usually unable to access financial services from commercial banks or international investors.
Funding via Seedfinance is a great opportunity for responsAbility to support small institutions that otherwise would be too risky and costly to finance directly. The small MFIs and farmers’ organizations play an important role in terms of social impact, as they can reach clients in remote rural areas, where otherwise no financial services are provided.
Located in Pasig City in the Philippines, Seedfinance not only provides financial services to small institutions, but also technical assistance and capacity-building programs that are vital to small start-up MFIs and SMEs.
By the end of 2009, Seedfinance provided funding to 71 MFIs and six SMEs located in various regions of the country – (except in the western part of Mindanao, which remains a conflict area).
Source: http://www.responsability.com/site/index.cfm?id_art=62525&vsprache=EN
SEEDFINANCE Conference 2010: The Micronomore UNIVERSE
Its final, Mark your calendar!
This year’s Micronomore Universe National Stakeholders Conference will be held on Oct. 20, 2010 in Cebu City.
Register now:
http://www.micronomore.com/register
Micro No More takes you to a whole new universe of mobility, accessibility, affordability and reliability in the provision of much needed financial and business development services to the micro- and small entrepreneurs in island and mountain communities that remain un-served and under-served by traditional financial institutions.
The Micro No More Universe – the whole socio-economic performance realm where MFIs strengthen themselves, adhere to their socio-economic VMGs, and provide the most responsive products and services to their clients for that ultimate impact and effect on the clients’ familial and economic life.
This year 2010, we take off from our foundations of Micro No More 2008 and Micro No More – No Borders of 2009, blasting off to the farthest reaches of this empowering MSME finance advocacy.
ENCASH & SEEDFINANCE INK AGREEMENT
ENCASH has made great inroads in providing ATM service to the Philippine countryside. As the first Independent ATM Deployer in the Philippines, ENCASH provides privately-owned ATMs to areas not deemed viable by commercial banks, allowing users in remote locations to conveniently obtain access to their finances. An ENCASH ATM may be found in over seventy (70) partner rural banks, cooperatives, tourist destinations, town halls and other partner entities in more than forty (40) provinces all over the country.
ENCASH started its operations on December 2007 with only five (5) ATMs. In twenty-three (23) months, ENCASH has more than one hundred twenty-two (122) deployed ATMs in Luzon, Visayas and Mindanao. The ENCASH ATM network is now considered to be the 4th largest in the MegaLink community and 10th in the entire industry of sixty (60) financial institutions. ENCASH intends to deploy its 200th ATM by early 2010 at the latest. All ATMs are brand new, compliant with security standards such as 3 DES and EMV, the standards for “smart” cards.
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About Us
A microfinance lender that aims primarily to bring the benefits of microfinance to micro-enterprises, self-employed workers, family-based and community-based food production and other livelihood activities through the extension of financial, technical, and business development facilities to workers’ associations, cooperatives, rural banks, microfinance nongovernment organizations (MFI-NGOs), peoples’ organizations, and commercial, industrial, and agricultural enterprises, corporations, partnerships, and proprietorships.
Latest News
- Truth in Lending Act (Republic Act No. 3765)
- SEEDFINANCE’s Mission to Practice: SPM
- Discovering a Whole New World in the Micro No More Universe
- Soliman Unfair to the president
- Smart partners with Seedfinance
- Encash’s advocacy
- ATM developer ENCASH eyes foreign partners for expansion
- Seedfinance Corporation, Philippines – Investment News
- SEEDFINANCE Conference 2010: The Micronomore UNIVERSE
- ENCASH & SEEDFINANCE INK AGREEMENT
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