In 2004, the foundation for Social Enterprise Development Partnerships, Inc. (SEDPI) was laid with a simple but compelling vision—to become a sustainable social enterprise for the economic empowerment of the poor. Since then, SEDPI has been affirming this vision by spreading the best practices on microfinance, social entrepreneurship and financial literacy to various points of the globe.
Microfinance is the provision of financial services to low income households—entire families or small businesses that lack finances and collateral, and are likely ineligible for commercial financial services. Microfinance has the potential to transform the lives of the poor, as it can give them capital to start a modest venture, tuition for school, or loan to repair a house. But many microfinance institutions (MFIs) lack the necessary knowledge, tools, and strategies to deliver services that fit the needs and preferences of the underprivileged.
In line with microfinance, SEDPI created a strong platform for financial empowerment through financial education. The poor must be able to manage their scarce resources effectively to enable them to improve their quality of life.
Social enterprises are organisations that take different legal forms in different countries, which are organised in an entrepreneurial spirit and which pursue both social and economic goals. SEDPI’s capacity building interventions on social entrepreneurship is pioneering in the Philippines as it supports start up social enterprises and strengthen those that are ready for expansion. SEDPI hopes that social entrepreneurship becomes the standard of doing business.
Like a nurturing steward, SEDPI has been growing the capacity of MFIs and helping them balance social and financial goals. It has also given financial education to remittance senders and receivers. Through these approaches, SEDPI has been putting homes, communities, and societies in a better position to protect and sustain themselves.