Big strides for small borrowers

Fruit and vegetable vendors are among the 19,000 microentrepreneurs in Mindanao with new access to bank credit. “Profits from the microlending program have allowed us to recover capital costs completely,” says one rural banker. At 3 a.m. on a weekend morning, Ruth Asor brushes the sleep from her eyes and enters the tiny bakery attached [...]

Weaving Business Success

With deft fingers, Ms. Mary Joy Bolay-og weaves grass straw into a banig (a colorful straw mat), stopping only occasionally to check the pattern. Outside, one of her employees is stripping and cutting the straw while another is busy with the sewing and packaging. Mrs. Bolay-og has been manufacturing banig for four years now. She [...]