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funding gap emerging markets
Philippines

Veritas Social (A)

  • NPFC
  • Invest in microfinance
  • + 8 other investors
  • €2,200
    Amount
    3.00%
    Interest
    24 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€2,200
    Interest3.00%
    Maturity24 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 392 days on 23 August 2013.

      The project

      Veritas Social Empowerment Inc. is a non-Government, non-profit organization (NGO), founded by Fr. Benigno Beltran Jr.,. The members of Veritas are mostly seminarians in The Maynilad-Veritas Gusali Tondo, Manila. Veritas operates out of a building that has been provided for free by Maynilad.

      The priority of Veritas is supporting people in a highly depressed resettlement area, in Tondo, Manila. Resettlement areas are government designated areas where urban (illegal) squatters or informal dwellers are relocated.

      Veritas provides the community with free entrepreneurial training and development. They are also providing education by teaching computer skills to the elderly and the youth.

      One of their projects is the distribution of commodities where basic household commodities are bought in bulk and sold to the community. Today, Veritas employs 32 individuals called OTDO’s (Order Taker and Delivery Officer). Veritas decided to apply for a loan from NPFC to use as additional capital to get more products and to accommodate more OTD Officers. The goal of the loan is to finance products that can be sold by the OTD Officers and to provide them with a livelihood.

      Veritas gives hope to underprivileged people.

      N.B. this project has now been split into 4 equal parts; this is the first tranche (A)

      Company nameNPFC
      CEOVeritas
      Founded
      LocationTondo, Manila
      SectorWholesale / Retail
      Turnover€0
      Employees32

      Impact

      There is currently no information available for this section. Check the Summary tab for more details.

      • With this investment 11 jobs are created
      • With this investment 44 lives are improved

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      We have already contributed to Veritas Social (A)

      Hajé van Egmond
      + and another
      8
      investors