Browsing by Author "Buccat, Chara Reina O."

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    Microfinance program assisted microenterprises in selected Municipalities of La Union: A basic profile survey
    (Don Mariano Marcos Memorial State University - North La Union Campus, 2011-03) Buccat, Chara Reina O.
    A basic profile survey of microfinance assisted microenterprise in selected municipalities of La Union was conducted to determine: (1) socio-demographic characteristics profile of the micro entrepreneurs respondents; (2) microenterprise profile; and (3) the degree of serious of problems encountered by the micro entrepreneurs respondents. Data and other information were obtained through the use of interview schedule instruments. The study was conducted from January 10 to February 28, 2011. Results of the study revealed that majority of micro entrepreneurs respondents were female with mean age of 44 years old, had relative high educational attainment backed up with some trainings along food processing, production management, records keeping and accounting, and cooperative. Most of the microenterprises were sole proprietorship while a few were engage in trading/marketing, personal services, cottage industries, food processing, food production, and farm supply store. The main sources of microfinance loan were from government bank but some were provided by private banks, rural banks, and cooperative. Most microentrepreneurs performed multi-role in the enterprise. Few performed managerial functions or bookkeeper. Only two-thirds of the enterprises employed personnel ranging from 1 to 7 persons. Microfinance loans were mainly used as a start up working capital, purchase of goods and materials, and payment of wages. Only 64% of microentrepreneurs - borrowers were able to pay the loan at maturity dates. Among the given by those who failed to pay on time were: (1) not enough income generated by the enterprise; (2) products were not sold on time; and (3) some used the income to expand their enterprise. Amount of loans were claimed to be moderately adequate for starting an enterprise and purchase of goods and materials. However, barely adequate for the other purpose of loans Too short terms of loan and collateral requirements for the loan were identified as serious problem in obtaining loans.