Micro-finance firm ENBC Finance is now helping microentrepreneurs from La Trinidad by building their businesses and thus giving better opportunities for their children. ENBC Finance is registered with the Securities and Exchange Commission (SEC) and was meant to help local entrepreneurs who are mostly intimidated or unqualified to apply for bank loans that require big and costly collaterals.
Launched last year by Alexander Bangsoy, a local entrepreneur and CEO of home grown developer Goshen Land, ENBC La Trinidad is the third branch of the firm after it opened two in Baguio. Being a former market vendor at the Baguio public market and having experienced rejections from big banks in his life as an entrepreneur, Bangsoy opened ENBC to alleviate the plight of most micro-entrepreneurs who usually get snapped by loan sharks, drying up their well of resources in their hand-to-mouth existence.
“This had always been our heart, to uplift Filipinos from poverty, para lahat tayo umangat, “Bangsoy said. He added that while ENBC Finance is a utility for very low interest loans, he cautioned against enslaving people to it. “We are not helping them if we are burying them in their loans,” he admonished the ENBC La Trinidad Team.
ENBC Finance offers business loans, market vendor loans, salary loans at 3.5 percent rate monthly. Being a legitimate and registered finance utility, ENBC Finance started to serve hundreds of entrepreneurs both from Baguio, La Trinidad and as far as Atok.
“The plan is for these micro-entrepreneurs like market vendors who live on daily subsistence to graduate from being dependent on our loans,” Bangsoy explained. “They must be taught to become better at nurturing their ventures and elevate them from small to medium scale entrepreneurs, one step at a time,” Bangsoy added.
So how is ENBC different from a loan shark?
“ENBC strives to make sure the borrower will not drown in his loans but become a better person and prosper, Bangsoy explained. As part of ENBC’s “Change Mindset, Change Life” approach, ENBC will offer free entrepreneurship seminars to its clients, majority of whom are market vendors and sari-sari store owners. These seminars are meant to help them get equipped with knowledge and skill to grow their businesses.
Interested loan applicants can check out ENBC’s services in La Trinidad at the second floor of Dangwa Square, Kilometer 6, La Trinidad, Benguet. Their office is open from Monday to Friday, 8 am to 5 pm and Saturdays, from 8-12 noon.*** JD