The Agricultural and Rural Development for Catanduanes, Inc. (ARDCI) is a non-government organization operating a microfinance project. It received funding from the Eurpoean Union until 2002. The organization operates in the provinces of Albay, Catanduanes, Camarines Sur and Sorsogon. It envisions itself as a sustainable institution for the economic empowerment of the enterprising poor in Bicol and beyond.
ARDCI is a typical NGO facing the challenge of financial sustainability. In the last four years, it has posted net losses in its books. As an organization governed by members coming from the grassroots, it strives to achieve financial sustainability and at the same time diligently keep its social mission on track.
ARDCI formed partnership with SEDPI at a time when all of its partners seemingly turned their backs on them. With the partnership and in a span of eleven months, ARDCI was able to turn around its operations and posted positive income, as of November 2007, for the first time in five years.
The road to turning ARDCI around entailed a lot of sacrifices and constructive changes. Thanks to its committed top management and front liners, everyone willingly participated in bringing back the glory of ARDCI.
SEDPI revamped the entire information system, retooled the staff and re-trained the board. The flow of communications was enhanced and internal control strengthened. What used to be reports arriving three months late could now be accessed within a week with high degree of accuracy. What used to be a continuously deteriorating portfolio quality now boasts 5.25% portfolio at risk.