ASA Philippines Foundation, Inc. (ASA)

This nonprofit microfinance institution targets poor entrepreneurial women with their own business or self-made products. Since their founding in 2004, they have helped an increasing number of poor Filipino families rise out of poverty by providing microfinancing to help them establish or otherwise improve their own microenterprises. ASA offers three major service products: 1) loans between PHP 1,000 to PHP 6,000 (approximately US$20 to $140) with a 15 percent interest rate for six months; 2) capital build-up and a microsavings service; 3) locked in capital build-up, a micro-insurance service (clients deposit PHP 10 per week and receive benefits in case of death). As of June 2014, ASA had 586 branches and 3,857 total staff. Since 2004 they had disbursed loans totaling PHP 36 billion (approximately US$818 million) to 759,850 clients in 81 provinces.