ENTREPRENEURIAL ENGAGEMENT OF MICROFINANCE BORROWERS IN BORONGAN CITY AND ITS IMPACT ON THEIR ECONOMIC CONDITIONS
Dr. Alirose A. Lalosa, Dr. Allan A. Lalosa, Baltazar R. Abobo
College Dean, Eastern Samar State University
This study aimed to document the profile of the respondents in terms of number of years of membership in micro financing, number of availed loans and maximum amount of loan received. It also aimed to find out the entrepreneurship engagement of micro finance borrowers, to describe the contribution of microfinance to the economic conditions of the microfinance borrowers and to determine the problems commonly encountered by the microfinance borrowers in their entrepreneurial venture. It was revealed that microfinance provided livelihood to micro borrowers through micro loans that made them earn an income higher than what they are earning before. Doing business have problems, however borrowers still profit from their entrepreneurial engagement specifically merchandising or buying and selling which has fast return on investment. Thus, they were able to successively avail larger amount of loans and stay for more years as client of MFIs. This implies that microfinance borrowers are creditworthy and responsible individuals. Moreover, it could be implied also that MFIs are committed to help their clients be uplifted from poverty. Conduct of trainings through the extension program of the College of Business Management and Accountancy and partnership with Microfinance Institutions is recommended to improve their income and overall living standards.
Keywords: microfinance, borrowers, entrepreneurship, entrepreneurial venture
Journal Name :
EPRA International Journal of Economic and Business Review(JEBR)
Published on : 2021-10-09