HomeIAMURE International Journal of Business and Managementvol. 7 no. 1 (2013)

Casigayan Micro_nance: A Feasible Project for the Poor Families of Northern Philippines

Raquel J. Dulliyao | Edna P. Yumol | Norfredo M. Dulay



One of the major socio-economic problems besetting the Philippine Economy is the widespread poverty. Based on the Family Income and Expenditure Survey (FIES), there are 4.7 million poor Filipino households translated to poverty incidence of 35.7%. Urban poverty incidence was 28.8%, while rural poverty incidence was 53.7%. This study determined the feasibility of establishing an economic program on _rift and Savings scheme to households and individuals earning at least or below the standard wage either on daily basis, contractual, commission or seasonal. It assessed the possibility of developing microfinance within the marginalized sector as a self-help institution to provide financial assistance among themselves. Adopting a model on microfinance establishment, the study has identified respondents who have no stable job or permanent source of income. Policies on membership were strictly followed including savings, loans, and collection. Micro_nance was set with agreed minimal regular savings and was maintained and pooled. Loans with minimal interest were granted. Trainings, workshops, and regular meetings were conducted. The study concludes that the establishment of micro_nance in the area was very feasible.