RESPONDING TO CLIENTS NEEDS THROUGH THE MAUNLAD PROGRAMPosted by CQSalazar on Jul 20, 2012 in Feature Stories | 14 comments
The TSPI Maunlad Program, which was first launched in Taguig and Biñan branches in 2009, was an attempt to respond to clients’ needs for an individual loan program that supports their growing business.
Maunlad Program is a cash flow-based individual lending program secured through co-makers and/or collateral. It is designed to support the growth of clients’ business by offering P30,000-P150,000 for additional working capital, acquisition of business assets and business site improvement. It has flexible loan repayment terms of up to 24 months. Instead of weekly meetings, monthly visits are conducted and quarterly entrepreneurship skills will be offered to the clients. The program targets both existing group loan clients and balik-TSPI clients with growing businesses.
The best practices and challenges in offering individual loans in the two pilot branches became the stepping stone for the Maunlad Program enhancement and rollout.
“We realized there were a lot of risks involved in individual lending but we know that we needed to address them if we are to deepen our service to our deserving clients,” shares Aquilina Onesa, TSPI director for Product Development.
In July 2011, the enhanced Maunlad Program was re-launched in three branches which served clients in Antipolo, Taguig and Malabon areas.
Credit officers were trained and designated to handle processing of Maunlad loans, a new accounting system had to be developed for proper management, the incentive system was reviewed and regular monitoring and evaluation was conducted.
The last quarter assessment of Maunlad Program gave birth to another program intended for those clients who are ready to graduate from the group loan but too early for a collateralized individual loan program.
Thus, Masikap Program, a non-collateralized individual lending program was conceptualized and set for product development. TSPI recognizes the support from Opportunity International Australia during the product development process, particularly for the individual lending programs.
While the Maunlad Program is still in its infancy, TSPI is optimistic about how it can deepen its impact in the communities it serves.
With inspiration from the success of our promising clients, the likes of Nanay Corazon Bautista and Nanay Jocelyn de Guzman, 2011 Citi Microentrepreneur of the Year awardees, TSPI looks to the future filled with optimism towards providing tangible microenterprise development opportunities for the entrepreneurial poor.
This article is a feature story in the 2011 TSPI Annual Report, written by Mr. Glenn Diaz, Writers Edge, Inc.