JVOMFI is a registered non-stock corporation with the Securities and Exchange Commission.
The Foundation’s primary purpose is to implement a microenterprise development strategy and provide microfinance programs, products and services such as microcredit and microsavings for the poor and low income clients in the Cordillera Administrative Region and other areas where the Foundation may expand to in the future.
Since 2001, the Jaime V. Ongpin Foundation, Inc. has been providing opportunities for women entrepreneurs through Enterprise Development. JVOFI’s Microfinance sought to contribute to the upliftment of the status of low-income households through microcredit, saving services, microinsurance and capacity building. Through the years we have remained to bring the same opportunities, not only to women entrepreneurs but to men and women alike to help them augment their families’ basic needs.
The implementing rules and regulation of the Microfinance NGOs Act and the mandate of Bureau of Internal Revenue to the Philippine Council for NGO Certification or PCNC brought about the birthing of a new Jaime V. Ongpin Microfinance Foundation, Inc. The microfinance activities of JVOFI was spun off to a new institution. Although the microfinance unit is now a separate entity, it has not deviated from the vision of resilient communities. It still holds on to the name our clients depended on for the past years, this time with the Jaime V. Ongpin Microfinance Foundation, Inc.
Microfinance started with only in three Barangays in Baguio City, namely; Irisan, Happy Hallow and Atok Trail. Now, JVOMFI has expanded all over Baguio City and La Trinidad.
Since we have undertaken the mission on helping micro entrepreneurs, we are happy to see them thrive as majority of our first time borrowers are engaged in retail and agribusiness. We have reinforced their capacities in handling their microbusinesses by providing capacity building opportunities.
Through the years our microfinance program supported the clients not only in augmenting their basic needs but also in increasing their income and in growing their businesses. Through these efforts we have contributed to reducing low income earners in Benguet, specifically in the areas where there are limited opportunities.
JVOMFI is determined to continue on implementing services to microentrepreneurs to help improve their well-being, by providing financial assistance for their businesses, additional skills and knowledge through capacity building, family buffer fund through savings and microinsurance and partners in chasing their dreams for their families.
To implement a microenterprise development strategy and provide microfinance programs, products and services such as microcredit and micro-savings for the poor and low-income clients in the Cordillera Administrative Regions and other areas that the Foundation may expand to in the future.
To provide entrepreneurs, whose businesses are not harmful to the environment, competitive products and services that will help them improve their well-being.
CLIENT PROTECTION POLICY:
JVOMFI is committed to ensuring an environment where no harm is done to clients. Therefore, JVOMFI adheres to the client protection principles on appropriate product design and delivery, prevention of over-indebtedness, transparency, responsible pricing, fair and respectful treatment of clients, privacy of client data and mechanisms for complaint resolution.
JVOMFI is a member of:
Microfinance Council of the Philippines, Inc.
Association of Financial Intermediaries of Baguio-Benguet.
Maria Rosario R. Lopez
Raul B. Bandonill
Jenny C. Marasigan
Dante Theodore T. Frias
Jayson P. Pascua