communi-k A quarterly publication
Year end 2007 . VOL 4 NO 3
Loan agreement signing with Land Bank of the Philippines. (Left to right:) Jennifer Tantan, LBP vice president for NCR-C; Dr. Amelia Gonzales, KMBI chaiman and president; Nenita Heran, LBP senior vice president; Edgardo Mercedes, KMBI executive director; Rizaldy Duque, KMBI resource mobilization manager; and Sancho Montaos II, KMBI finance and accounting manager.
KMBI signs P330M line CHAIRMAN and president Dr. Amelia Gonzales and executive director Edgardo Mercedes, representing KMBI, signed loan agreements with commercial and thrift banks, namely Bank of the Philippine Islands, Development Bank of the Philippines, Landbank of the Philippines, Planters Development Bank, and United Coconut Planters Bank. The total amount of obtained credit lines is Php280 million. Another agreement was signed with the Oikocredit EDCS UA, a private financial institution, for a Php50 million line. In these agreements, the banks will make the funds available for KMBI’s expansion and microfinance operations. “The resource mobilization activity was conducted in preparation for the expansion plan, which is targeted on the second quarter of 2008,” said resource mobilization manager Aldy Duque. A projected budget of Php176 million is alloted for the said plan, particularly for preoperating expenses and loan funds, according to Sancho Montaos II, finance and accounting manager. Php50 million
was drawn from Landbank which was used to fund the loans extended to clients from Calabarzon, Bicol and Davao operations. By signing loan agreements, KMBI is not only obtaining additional funds but also forging partnerships with the banks. Resource mobilization becomes a strategy therefore for KMBI to create partnerships, Duque said. This also proves that KMBI is able to attain a healthy financial status which is one of the requirements of the KMBI signs/9
KMBI
“Partner for a Progressive Life”
Microentrepreneurs’ summit marks success KMBI marked its success for bringing together 9,200 program members (PMs) from Luzon operation on October 22, 2007 at the Araneta Coliseum. With the theme “BAGO: Babae, Negosyo at Pag-unlad,” the PMs were empowered through presentation of various topics such as “Why Women?”, “Gold Mine,” “Personal Financial Management,” Family Matters” and an exhortation on Ephesians 4:11-12. The resource speakers were Karen Davila, Francis Kong, Chinkee Tan, Rev. Clem Microentrepreneurs’ summit/2
Program members during the praise and worship celebration.