Iloilo women grow livelihoods through microfinance

By Mariela Angella Oladive

Women entrepreneurs in Iloilo are building sustainable livelihoods through microfinance, using small loans, disciplined saving and community support to grow businesses and support their families.

Across communities in Iloilo City and nearby towns, women operate small but active enterprises — from bakeries and eateries to neighborhood retail stores — serving local markets and generating steady income.

Many of these entrepreneurs use microfinance as a financial tool to support operations, manage risks and gradually expand their businesses over time.

One of them is Juliet Bascoguin, 66, of Jaro, Iloilo City, whose journey reflects how small beginnings can grow into a sustainable family enterprise.

“We started as a small backyard piggery,” Bascoguin recalled during the PANAGHIUSA: CARD Mutually Reinforcing Institutions Panaghiusa Exposure Tour 2026 on March 27, referring to the PHP 3,000 loan she first accessed through microfinance.

That initial loan, though modest, created a steady source of income that later allowed her family to plan for a bigger venture.

As earnings improved, Bascoguin and her eight siblings worked together to pursue a longtime goal of opening a bakery.

“Growing up, cake during celebrations was usually for wealthy guests. That’s why we promised ourselves that one day, we would have our own bakery,” she said.

In 1998, the family established 9J’s Bakery, building the business step by step.

With her background in baking, Bascoguin took the lead in managing daily operations.

“In its early years, the bakery relied on credit to purchase ingredients, which we paid on a weekly basis,” she added.

To sustain operations and improve product quality, the family consistently reinvested earnings in better equipment and production.

In 2014, Bascoguin became a client of CARD Bank Inc., a microfinance-oriented rural bank under CARD MRI, initially to support her child’s education. (CardMRI)

Over time, access to microfinance became integral to the business, providing additional capital that allowed the family to increase working capital, reduce reliance on borrowed supplies and stabilize daily operations.

Today, the bakery is self-sustaining, producing about 700 pieces of bread daily and supplying nearby stores and customers.

Bascoguin said discipline and persistence have been key in sustaining their livelihood and encouraged others to continue working toward their goals.

“Keep going — that’s how business is. There are ups and downs, but don’t give up. Save, be wise in borrowing, and continue moving forward,” she said.

Similarly, in La Paz, Iloilo City, Juvy B. Jayme, 51, built her business by responding to market demand and managing resources carefully.

After returning from overseas work, Jayme used her savings to open a small cafe with her sister in 2002.

As demand increased, the business expanded into serving traditional dishes such as kadyos baboy langka and pancit molo, eventually becoming a full eatery.

However, rising expenses, especially for her children’s education, placed increasing financial pressure on the household.

“Business is not always successful. There are times when capital falls short and expenses increase,” she said.

In response, Jayme opened an account with CARD Bank and used small loans, along with regular savings, to maintain and support her business operations.

Rising ingredient costs remain a challenge, but access to financial support gave her the flexibility to adjust, such as sourcing her own produce to manage expenses.

Today, her eatery continues to operate steadily, serving a growing customer base and contributing to local tourism activity.

Meanwhile, in Barangay Anilao, Pavia, Marlene Jagolino, 61, said microfinance and insurance services helped support her family through both growth and loss.

Her family’s main source of income used to be hog slaughtering, which they carried out twice a week.

Through their earnings, along with support from CARD Inc., they were able to send their children to college and build a concrete house.

However, after her husband’s death, the business ceased operations.

Jagolino said insurance assistance from CARD Inc. helped them manage daily expenses during that difficult period.

She has since shifted to operating a sari-sari store and selling fish balls, smaller but more manageable sources of income that continue to support her household.

The stories of Bascoguin, Jayme and Jagolino highlight the many roles women continue to carry — as entrepreneurs, providers, caregivers and decision-makers within their families and communities.

Through microfinance, they are able not only to start and sustain businesses, but also to navigate challenges, support their children’s education and rebuild in times of difficulty.

CARD MRI says its banking institutions are designed to expand access to financial services for women in rural communities, including loans and savings products that support livelihood development. (CardMRI)