THE LIVED EXPERIENCES OF MICROFINANCE BORROWERS IN POVERTY ALLEVIATION Final Paper

New Era University
COLLEGE OF BUSINESS ADMINISTRATION

School of Management
No.9 Central Avenue, New Era, Quezon City 1107, Philippines
Telephone Number: (632)981-4227 /Fax (632) 981-4240
Email Address: businessadministration@neu.edu.ph
THE LIVED EXPERIENCES OF MICROFINANCE

BORROWERS IN POVERTY ALLEVIATION
A Research Paper Presented to the

Faculty of the College of Business Administration
New Era University
Quezon City
In Partial Fulfillment of the Requirements for the Degree

Bachelor of Science in Business Administration
Major in Financial Management
by
Balmes, Joseph Benedict, C.

Manalo, Zandra Maxiene L.
Reyes, Kathrina M.
Cruz, John Patrick M.
Consigo, Carl Justin V.
Olmoguez, Lanie
Sayat, John Michael
Turla, Tristan Paul
December 2022
New Era University
COPYRIGHT PAGE
Philippine Copyright 2022

By Balmes, Joseph Benedict C., Cruz, John Patrick, Consigo, Carl Justin V., Manalo,
Zandra Maxiene L., Olmoguez, Lanie, Reyes, Kathrina M., Sayat, John Michael, Turla,
Tristan Paul, and the College of Business Administration at New Era University.
All rights reserved. Portions of this manuscript may be reproduced with proper
referencing and due acknowledgment of the author.
ii
New Era University
APPROVAL SHEET
This research entitled THE LIVED EXPERIENCES OF MICROFINANCE

BORROWERS IN POVERTY ALLEVIATION prepared and submitted by Balmes,
Joseph Benedict, C., Cruz, John Patrick, Consigo, Carl Justin V., Manalo, Zandra
Maxiene L., Olmoguez, Lanie, Reyes, Kathrina M., Sayat, John Michael, Turla, Tristan
Paul, in partial fulfillment of the requirements for the degree BACHELOR OF SCIENCE
IN FINANCIAL MANAGEMENT, has been examined and recommended for Oral
Examination.
IRENE P. SOLANO, Ed D
Adviser
_____________________________________________________________________
________________________
APPROVAL
Approved by the Panel on Oral Examination on 08 December 2022 with the

grade of ____________.
LUNINGNING DE CASTRO, Ph D
Chair
WINLIND L. DELA PAZ, DBA VIVIAN I. BUHAIN, Ph.D
Member Member
Accepted in partial fulfillment of the requirements for the degree Bachelor of

Science in Business Administration, Major in Financial Management.
EMILIA MACINAS MANANGHAYA, DBA

Dean
iii
New Era University
CERTIFICATION OF ORIGINALITY
This is to certify that the research work presented entitled THE LIVED
EXPERIENCES OF MICROFINANCE BORROWERS IN POVERTY ALLEVIATION for
the degree of Bachelor of Science in Business Administration Major in Financial
Management at the New Era University of the Philippines embodies the result of original
and scholarly work carried out by the undersigned. This research does not contain words
or ideas taken from published sources or written works that have been accepted as a
basis for the award of a degree from any higher education institution, except where proper
referencing and acknowledgment were made.
BALMES, JOSEPH BENEDICT C.

CRUZ, JOHN PATRICK M.
CONSIGO, CARL JUSTIN V.
MANALO, ZANDRA MAXIENE L.
OLMOGUEZ, LANIE
REYES, KATHRINA M.
SAYAT, JOHN MICHAEL
TURLA, TRISTAN PAUL
Researchers
December 08, 2022
iv
New Era University
ACKNOWLEDGMENTS
First and foremost, the researchers wish to express our gratitude and praise to
Almighty God for His blessings and guidance throughout our studies.
To our beloved New Era University, the researchers wanted to show our
appreciation for allowing us to conduct this research.
Our special thanks to Dean Emilia Mananghaya, Dean of the College of Business
Administration, for her constant support, guidance, and assistance to our Professor Dr.
Irene P. Solano in allowing us to conduct this study.
The researchers would like to thank our Professor in Business Research, Dr. Irene
P. Solano, for her continuous encouragement and insights that led to the completion of
this study. Also, the researchers thank you for your consistent efforts in helping us to
fulfill our research study.
To all the researchers in this study, thank you for your contributions to its success.
And, for sticking it through until the end to give our study its best outcome.
Finally, the researchers want to express our heartfelt gratitude to our parents and
friends for their unfailing kindness and support. This study would not have been possible
without that. Thank you for all your assistance and motivation.
v
New Era University
DEDICATION
This work is the fruit of countless and arduous sacrifices. Through the researchers'
efforts, this work is heartily and proudly dedicated to the people who serve as an
inspiration. From parents and guardians to classmates and circle of friends who extended
their help amid problems while doing this work.
To the faculty and staff of the College of Business Administration of New Era
University, Quezon City. Above all to our Almighty God, who has showered us with His
blessings in our daily lives, particularly for the strength, courage, patience, wisdom, time,
and guidance in carrying out this work.
vi
New Era University
ABSTRACT
Title : The Lived Experiences of Microfinance Borrowers

in Poverty Alleviation
Researcher : Balmes, Joseph Benedict, C.

Cruz, John Patrick M.
Consigo, Carl Justin V.
Manalo, Zandra Maxiene L.
Olmoguez, Lanie
Reyes, Kathrina M.
Sayat, John Michael
Turla, Tristan Paul
Degree : Bachelor of Science in Business Administration
Institution : New Era University
Year : 2022
Adviser : Irene P. Solano, Ed D
The purpose of this study was to explore microfinance borrowers' lived experiences in
terms of their standard of living and/or business operations. This will assist in providing
insights and responding to the borrowers' specific needs and challenges in determining
how their products and services compare to the services provided by microfinance
institutions in the Philippines to alleviate poverty. A qualitative phenomenological
approach is used to explore how microfinance borrowers improve their living standards
and/or business operations. Semi Structured interviews, observations, and document
analysis were carried out with 5 borrowers who owned businesses prior to and/or during
their microfinance. To determine invariant codes, reduce constituents to categories, and
cluster categories into themes, inductive coding was used. Intercoder agreement, audio
recording, triangulation, bracketing, and member checking were used to ensure reliability
and validity.
Microfinance is a tool that can assist people in alleviating poverty. It is now widely
recognized as a method of helping people alleviate poverty. The majority of the
vii
New Era University
participants own small businesses that are expanding and earning more money than they
did previously. Because it affected how they lived and because they were unfamiliar with
making weekly loan payments, microfinance had a minor impact on their standard of
living. Making weekly payments is the most difficult challenge for microfinance borrowers.
The microfinance institution must frequently evaluate the financial situation of its clients
in order to stay focused on helping low-income households. Also, the study shows that
borrowers who have access to loans can grow their business. Due to their higher income,
households may have easier access to better healthcare, education, food, housing, and
leisure opportunities. The borrowers should put in more business in order for them to
finance their weekly payments. Microfinance borrowers must understand how to properly
manage their business and generate income to support their standard of living.
Keywords - Qualitative Phenomenological approach, Poverty alleviation.
viii
New Era University
TABLE OF CONTENTS
Page
TITLE PAGE …………………………………………………………………… i
COPYRIGHT PAGE…………………………………………………………… ii
CERTIFICATION AND APPROVAL SHEET………………………………... iii
CERTIFICATION OF ORIGINALITY…………………………………………. iv
ACKNOWLEDGMENTS………………………………………………………….v
DEDICATION…………………………………………………………………… vi
ABSTRACT ……………………………………………………………………. vii
TABLE OF CONTENTS……………………………………………………….. ix
LIST OF TABLES …………………………………………………………… xi
LIST OF FIGURES …………………………………………………………. xii
Chapter 1 INTRODUCTION
Background of the Study ……………………………………..…..… 1

Literature Review …………………………………………… 1
Statement of the Problem …………………………………………… 3
Theoretical Framework ………………………………….……….. 4
Purpose Statement …………………………………..………. 5
Research Questions …………………………………..………. 5
Scope and Limitations …………………………………..………. 5
Significance of the Study …………………………………………… 6
Definition of Terms ……………….…………………………….......... 7
Chapter 2 METHOD
Research Method ……………….…………………………….......... 10

Research Design ……………….…………………………….......... 10
Research Settings ……………….…………………………….......... 10
Participants and Sample ………………….………………….......... 11
Data Collection Methods ……………….…………………….......... 11
Data Collection Procedure ……….…………………………….......... 13
Data Analysis ……………….…………………………….......... 13
Trustworthiness ……………….…………………………….......... 14
Ethical Considerations ………….………………………….......... 16
Chapter 3 RESULTS
Pre-Coding ………………………….………………………….......... 18
Final Coding ……………….………….…………………………......... 28
ix
New Era University
Chapter 4 DISCUSSION
Summary of the Findings .………….…………………………......... 37

Conclusion ……………….………….…………………………......... 38
Recommendation ……………….…………………………….......... 39
REFERENCES
Books .………….………………………….............................. 40
Unpublished Sources (Master’s Thesis/ Dissertation) ……........... 40
Published Sources (Journals) .………….…………………......... 40
Internet Sources .………….………………………….................... 40
APPENDICES
Appendix 1 Request Letter to Conduct Interview ….…......... 43
Appendix 2 Consent Letter to Conduct Interview .………...... 44
Appendix 3 Questionnaire .………….………………….................... 46
Appendix 4 List of Respondents .…….……………….................... 46
Appendix 5 Curriculum Vitae .………….………….................... 47
Appendix 6 Certificate of Editing .………….………….................... 55
Appendix 7 Interview Raw Data .………….………….................... 56
x
New Era University
LIST OF TABLES
Table Caption Page
1 Interview Protocol ……………………………………………..5
2 Evaluative Criteria ……………………………………………..17
3 Strategies for Each Criteria ……………………………..14
4 Results: Themes, Category, and Codes ……………………..15
5 Pre-coding: (Shirley Regarde - 2022) ………………..……18
6 Pre-coding: (Melanie Beljica - 2022) ………………..……20
7 Pre-coding: (Flordeliza Velloz - 2022) ………………..……22
8 Pre-coding: (Evelyn Mejica - 2022) ………………..……24
9 Pre-coding: (Rowena Cruz - 2022) ………………..……25
10 Final coding: (Shirley Regarde - 2022) …………………..…27
11 Final coding: (Melanie Beljica - 2022) …………………29
12 Final-coding: (Flordeliza Velloz - 2022) ………………..……31
13 Final-coding: (Evelyn Mejica - 2022) ………………..……33
14 Final-coding: (Rowena Cruz - 2022) ………………..……35
xi
New Era University
LIST OF FIGURES
Figure Caption Page
1 A theory of change for microfinance …….…………….. 4
xii
New Era University
Chapter 1
INTRODUCTION
Background of the Study
Poverty is a pandemic, and policymakers and researchers have proposed
solutions to poverty that society must address immediately in order to improve living
standards (Bent 2019). According to research, poverty can only be eradicated if societies
provide the necessary resources to accelerate economic activity such as smallholder
farming, small business, and retail (Khan et al. 2020). According to the BSP, or Bangko
Sentral ng Pilipinas, microfinance loans are small loans granted to the poor and low-
income households for their microenterprises and small businesses to enable them to
raise their income levels and improve their living standards. People can use microfinance
as a tool to help them alleviate poverty. It is now widely acknowledged as a strategy for
helping people get out of poverty. The last few decades have seen a rise in the popularity
of microfinance. It is regarded as a crucial tool for both empowering and developing poor
people, in addition to helping to reduce poverty.
Literature Review
Microfinance can contribute to the survival and success of poor households and
businesses. According to the Asian Development Bank(2022) these obstacles can be
overcome through microfinance. It helps low-income families balance income fluctuations
and set aside money for future needs. In times of prosperity, microfinance supports the
growth of families and small businesses; in difficult times, it can help to cope and rebuild.
In fact, World Relief has released a new report detailing the devastating impact of COVID-
19 on the world's poor. This report is one of the most comprehensive of its kind, coming
two years after the World Health Organization declared COVID-19 a global pandemic.
"The pandemic has become one of the largest humanitarian problems in recorded history,
with the World Bank showing in just five years," stated Matilda Matitha, World Relief
1
New Era University
Malawi Country Director. COVID-19 has pushed an additional 97 million people into
poverty by 2020.
Poverty, according to the World Bank (2017), is defined as an obvious lack of
welfare and has many dimensions. These include a lack of income and the inability to
obtain basic goods and services required for survival. Poverty also includes poor health
and education, insufficient access to clean water and sanitation, insufficient physical
security, a lack of a voice, and a lack of capacity and opportunity to improve one's life.
Based on the Philippine Statistics Authority(2021) Family Income and Expenditure
Survey, the population's poverty rate was 18.1%, according to the Philippine Statistics
Authority. Meeting both food and non-food requirements This equates to approximately
19.99 million Filipinos living below the poverty line with a monthly income of P12,030 for
a family of five. The self-sufficiency rate has risen slightly to 5.9% in 2021, defined as the
percentage of Filipinos whose income falls below their basic food needs. According to
Prashansa's (2019) study, the Philippines' microfinance sector has a $0.8 billion loan
portfolio spread across 3,000 branches and six million active clients, 91% of whom are
women. As a result, the Philippines has one of the most active microfinance marketplaces
in the world. According to the Microfinance Barometer (2017), there were 139 million
customers at microfinance institutions (MFIs) worldwide in 2017 with a $114 billion (5.9
trillion) loan portfolio. Rural poverty rates are higher than those in urban areas. Poverty
alleviation is a set of economic and humanitarian actions taken to eliminate poverty in a
country (Manzoor et al. 2019). Poverty alleviation is a set of actions aimed at identifying
and demonstrating how poor people can create wealth for themselves in order to
permanently end poverty. (Zainal et al.,2019) Poverty alleviation is primarily caused by
overall economic growth.
Microfinance allows people to improve their standard of living. Being poor and
those who are unable to access the services of conventional banks is just one of the
2
New Era University
reasons that borrowers use microfinance because it helps them, especially those who
have limited access to getting loans from financial institutions. It is called one way that
can help people get out of poverty. Moreover, it is an approach for assisting individuals
in emerging from poverty, and it is generally recognized today as a technique for aiding
people to overcome poverty and a significant tool for empowering and developing people.
In addition to lending them money, it also aids them by offering additional services that
have a variety of outcomes, including the acquisition of useful assets, investments, the
creation or expansion of new businesses, and the development of professional abilities
through training and education. These factors have led to the widespread acceptance of
microfinance as a crucial tool for reducing poverty. However, it remains unclear whether
microfinance does in fact deliver on its promises.
Given the rapid development and growth of the microfinance sector, it is critical to
educate the public and address the unique requirements and difficulties that the
management and borrowers of this sector confront when deciding how to design their
services and products. The purpose of this study is to explore the experiences of
microfinance borrowers in order to provide people with insights and to respond to the
specific needs and challenges of the industry's management and borrowers in
determining how their standard of living and business operations are performing.
Statement of the Problem
According to Prashansa's (2019) study, the Philippines' microfinance sector has a
$0.8 billion loan portfolio spread across 3,000 branches and six million active clients, 91%
of whom are women. As a result, the Philippines has one of the most active microfinance
marketplaces in the world. According to the Microfinance Barometer, there were 139
million customers at microfinance institutions (MFIs) worldwide in 2017 with a $114 billion
(5.9 trillion) loan portfolio.
3
New Era University
This study explores how the experiences of microfinance borrowers in Quezon
City, Philippines enhances their living standards and/or business operations.
Theoretical Framework
This theory states that customers evaluate the effectiveness of a service based
on both their expectations and the results. There may be positive confirmation if the
product or service lived up to the borrower's expectations. On the other hand, the
borrower may be unsatisfied if the products or services fall short of their expectations
(Roberts, 2018). Expectations, perceived performance, disconfirmation, and satisfaction
make up the four components of this paradigm. Pre-consumption assumptions have an
effect on customer expectations, whereas performance has an effect on client
perceptions of the service. The third element, disconfirmation, is when a mismatch exists
between client expectations and the performance of the good or service. Satisfaction can
be calculated by adding the ratings of the various parts of the good or service.
Figure 1: A theory of change for microfinance.
This study also made use of the theory of change. According to the microfinance
theory of change, borrowers who have access to loans can grow their enterprises. Due
to their higher income, households may have easier access to better healthcare,
education, food, housing, and leisure opportunities (Becker D., 2017). The theory for
microfinance derived from the research is depicted in Figure 1 above.
4
New Era University
Purpose Statement
The purpose of this phenomenological study is to explore the experiences of
microfinance borrowers located in Quezon City, Philippines in terms of their standard of
living and/or business operations. According to some studies, microfinance contributes
by assisting individuals in alleviating poverty, and it is widely recognized today as a
method of assisting people in alleviating poverty as well as a significant tool for
empowering and developing people. However, it remains unclear whether microfinance
does in fact deliver on its promises. This study selected five microfinance borrowers from
Quezon City, Philippines. This study aims to provide people with insights and to respond
to the industry's management and borrowers’ specific needs and challenges in
determining how their standard of living and business operations are performing.
Research Question
1. What was the life of the borrowers before and during microfinance?
2. What are the problems and challenges experienced by microfinance borrowers?
3. How does microfinance affect business operations and standard of living?
Scope and Limitations
This study explores how the experiences of microfinance borrowers in Quezon
City, Philippines enhances their living standards and/or business operations and
proposes possible solutions regarding these problems. This study considers every aspect
of microfinance borrowers' level of household income, availability and quality of housing,
access to health care, access to education and access to social services and all
participants are informed about the nature of the study and participation is based on a
voluntary basis.
This study is limited only to five microfinance borrowers of Quezon City,
Philippines. Determining the experiences of microfinance borrowers in terms of their
standard of living and/or business operations was the focus of this study. The main
5
New Era University
source of data will be the questionnaire, which is prepared by the researchers.The results
of this study will be applicable only to the participants of this study and will not be used
by the people who do not belong to the population of this study. All information and
conclusions drawn from this study were obtained only to this particular microfinance
borrower.
Significance of the Study
The outcomes of this study will be of great benefit to low-income households. The
information provided shows how accommodating microfinance would help poor
households improve their financial security. The study may make it possible for low-
income households to secure their income sources and save money for their long-term
goals. The findings will also assist low-income households in their efforts to rebuild and
cope through tough situations.
Faculty - Researchers hope that this study may raise public awareness about how
microfinance promotes economic development by providing savings and credit to low-
income households, allowing them to stabilize their income flows and save for future
needs. Microfinance helps families and small businesses thrive in good times and cope
and rebuild in bad times.
Students - It may broaden students' understanding of microfinance by exploring
borrowers' lived experiences with microfinance institutions' services in order to assist low-
income households in stabilizing their income flows and saving for future needs. It is
critical to provide people with insights and to respond to the industry's management and
borrowers' specific needs and challenges in determining how their products and services
are performing.
Microfinance Borrowers - This study may educate those who are underprivileged and
assist them in understanding how microfinance works. The study's findings may
encourage more borrowers to seek financial services from microfinance institutions. It
6
New Era University
would also aid them in making decisions regarding financial issues. Microfinance not only
provides loans but also investment plans and insurance. These features help borrowers
be more conscious of how they spend their money. It is widely recognized that having
insurance would greatly benefit one person. Having knowledge and investing in
insurance may help low-income people improve their financial situation.
Microfinance Institutions - This study may help microfinance institutions improve their
services by providing empirical evidence about the lived experiences of microfinance on
poverty reduction by exploring how satisfied microfinance borrowers are with the services
they receive. In order to respond to the industry's management and practitioners' specific
needs and challenges in determining how their products and services can help reduce
poverty.
Future Researchers – This study may help future researchers undertaking similar
studies or about microfinancing. It may serve as a guide or reference for future studies
on the subject matter alleviating poverty.
Definition of Terms
Acquisition - It is when one company purchases most or all of another company's shares
to gain control of that company. (Kenton, W., James, M., and Courage, A., 2022)
Borrower - A person or organization using funds, assets, or services on credit is known
as a borrower. The idea is most frequently used in the lending of money, where a
borrower applies for a loan and the lender evaluates their credit. Additionally, if the loan
is not repaid on time, the lender may insist that the borrower provide collateral that it can
seize. As part of the loan arrangement, the borrower consents to specific terms and
conditions. (Accounting Tools, 2022)
Business Operations - Activities that businesses engage in on a daily basis to increase
the value of the enterprise and earn a profit. The activities can be optimized to generate
7
New Era University
sufficient revenues to cover expenses and earn profit for the owner of the business.(CFI,
2022)
Disconfirmation - Introducing evidence that demonstrates unequivocally that a belief or
hypothesis is false or that it is less likely that a belief or hypothesis will hold true.
(Grimmelikhuijsen, S. and Porumbescu, G., 2017)
Effectiveness - It is the ability to generate desired output or the capacity to deliver
desired results. Effectiveness is the quality of having an intended or anticipated result or
leaving a lasting, profound impression. (Accounting Tools, 2022)
Expansion - The business cycle stage known as expansion occurs when real gross
domestic product (GDP) increases for two or more consecutive quarters, going from a
low point to a high point. Expansion, which is often known as an economic recovery, is
frequently followed by an increase in employment, consumer confidence, and equities
markets. (Liberto, D. and Kelly. R., 2021)
Insurance - A policy that represents an insurance contract provides the policyholder with
financial protection or payment from an insurance firm against losses. In order to make
payments to the insured more manageable, the company pools the risks of its clients.
(Kagan, J., Potter, C., and Munichiello, K., 2022)
Low-income households - It refers to a household whose combined annual gross
income is 50% or less of the median household income. (Law Sider, nd)
Maximize revenue - is a theory that if you sell your products at low cost, you will increase
the revenue you bring in by selling a higher total volume of goods. (K.Srivastav and
Vaidya, CFA, FRM, 2022)
Microenterprises - Refers to a small business that employs few people, it usually
operates with fewer than 10 people and is started with a small amount of capital advanced
from banking or other organization. (M. James, 2021)
8
New Era University
Microfinance - It is a financial service provided to unemployed or low-income individuals
or groups who lack access to conventional banking services. (Julia Kagan, S.Anderson,
2022)
Paradigm - It is a unique collection of ideas or ways of thinking that includes postulates,
hypotheses, research techniques, and guidelines for what constitutes valid contributions
to a topic. (Study.com,2021)
Poverty Alleviation - Its objective is to raise the standard of living for individuals who
are now in poverty. Poverty alleviation is another word that is frequently used. (Igi-Global,
n.d.)
Widespread - This refers to harm that affects a vast number of people, a complete
ecosystem, a species, or a cross-section of states rather than a small geographic area
(Law Insider, n.d.)
Transcendental Phenomenological Approach - it is a philosophical approach to
qualitative research methodology seeking to understand human experience. (Norgaard
B., 2021)
9
New Era University
Chapter 2
METHOD
Research Method
This study used phenomenological research methodology and an interviewing
data collection technique (Smith et al. 2009). This approach has developed as a way to
probe participants' perspectives on their interactions with others and in social contexts
(Crotty 1998). To give a first-person experience is the main objective. The researchers
must set aside its interpretations and present the subjects' unedited descriptions when
conducting phenomenology. This is admittedly constrained because it aims to distinguish
between the researcher's cultural impositions and the participants' interpretations of their
experiences without being overly critical of (Crotty 1998). However, it is evident that
phenomenology has a degree of objectivity because the researcher is responsible for
reporting on chosen themes of the participants' descriptions—the selection of objects of
the subjects' experiences (Creswell 2013; Maxwell 2012). The methodology used, which
is outlined below, was designed to gather and analyze data while minimizing the
imposition of the researcher's presumptions.
Research Design
In this study, a qualitative transcendental phenomenological approach was used
to explore how microfinance alleviates poverty to its borrowers to improved standard of
living and/or business operations. A phenomenology is a qualitative research approach
that describes the meaning of a lived experience of a phenomenon for several individuals,
which in this case is the experience of microfinance borrowers in poverty alleviation.
Moustakas' transcendental phenomenology approach, adapted from Husserl, focuses on
the participants' given descriptions to generate an essence of the lived experience.
10
New Era University
Research Setting
This study was conducted in Quezon City, Philippines. The researchers chose this
location simply because they believe that Quezon City qualifies the population that suits
what researchers need for the study. Also, for the safety and accessibility purposes of
the researchers.
Participants and Sample
A phenomenological framework necessitates a relatively homogeneous group of
participants (Creswell, 2007). As a result, participants in a phenomenological study
should have encountered the same phenomenon. Individuals chosen to participate in the
phenomenological study should have had significant and meaningful experiences with
the phenomenon under investigation (Moustakas, 1994). This study explores the
experiences of microfinance borrowers in terms of their standard of living and/or business
operations, and it included five microfinance borrowers from Quezon City, Philippines,
who had businesses prior to and/or during microfinance.
Data Collection Methods
The primary data-gathering method in this phenomenological study is in-depth
interviews with participants (Creswell 2007). A phenomenological interview is used to
describe the meaning of a phenomenon that several people share (Marshall & Rossman,
2006). Multiple interviews are frequently conducted with each of the research participants
in phenomenological studies (Creswell, 2007). To collect phenomenological data,
Seidman proposed three serial in-depth phenomenological interviews with each of the
research participants. According to Seidman (1998), the first interview assessed prior
experience with the phenomenon of interest, while the subsequent interview is based on
current experience. The third interview combines the information gleaned from the first
two to describe the individual's essential experience with the phenomenon. Moustakas
(1994) proposed that phenomenological interviews begin with a social conversation to
11
New Era University
create a relaxing and trusting environment.
The interview questions included 10 questions about the borrowers' lives before
and after microfinance. What are the issues and challenges that microfinance borrowers
face? How does microfinance affect business operations and living standards? Probes
and follow-up questions were added as needed throughout the interview process to
encourage elaboration and clarify responses. Specific questions were added as the
interview process progressed in response to emerging themes. The first interview
immediately followed each interview, and verbatim transcripts were generated.
Interview Questions
1.1 Tell me something about your business (location, industry, number of employees,
number of years in the business, source of capital financing).
1.2 What was your business situation before and during microfinance?
1.3 Describe your standard of living before and during microfinance? (Level of
household income, availability and quality of housing, access to health care, access to
education and access to social services).
2.1 What factors made you decide to apply for microfinance?

2.2 What are the problems encountered in applying for microfinance?
2.3 While under microfinancing what were the challenges that you encountered?
3.1 How does microfinance affect your:

3.1.1 Business operations?
3.1.2 Standard of living?
3.2 How do you see microfinance to alleviate poverty?
3.3 What are the important insights that you would like to share about microfinance?
Table 1: Interview Questions.
Data can be collected using other techniques, such as focus group interviews,
observations, and video recordings. In addition to interviews, an observation method can
be used to observe the research environment. Data can be collected from different kinds
of informants for the purpose of triangulation. This may ensure efficiency in gathering
12
New Era University
information about how effective this research is for low-income households and
businesses, as well as how microfinance supports the growth of families and small
businesses in difficult times, and how it can help to cope and rebuild.
Data Collection Procedure
This study's participants were five microfinance borrowers, and In-depth
interviews were conducted. Interview questions were formulated related to the research
questions. These were validated and approved by the research adviser. The researchers
got consent from each microfinance borrower before performing the interview and the
researcher also set the date with the participants and conducted the formal interview.
Each session lasted between 20 to almost 30 minutes, and with the participants'
agreement, it employed video and audio recording. Later, a theme analysis method was
used to evaluate the transcript of the interview.
Data audio-recorded, transcribed, and validated by the researchers was sent back
to the participants for review and correction. Transcripts are manually coded by the
researchers after the participants have confirmed that they are accurate.
Data Analysis
In this study, inductive data analysis was done using the structured method
proposed by Moustakas. All transcripts were read a second time with memos made to
further immerse the researcher in the data and highlight important concepts after each
transcript had already been read twice to familiarize the researcher with the data. The
steps that were taken after the initial immersion were as follows:
● Horizontalization was accomplished by giving each statement equal weight and
importance, labeling it with a descriptive label, extracting significant statements,
aligning them parallel to one another, and removing overlaps and repetitions.
● Clustering the horizons into themes was used to classify the components into
groups, and each group received a thematic label. Some categories of the
13
New Era University
experience's invariant components emerged from the initial coding. Up until all
components were clustered and reduced into 3 core themes of the experience,
this step was repeated numerous times to further group and reduce categories.
● Writing the textural description was used to pinpoint the experience's invariant
elements, and statements that did not fall within its horizon were condensed and
eliminated. It was necessary to evaluate whether the statement contained a crucial
moment for understanding the experience and whether it could be abstracted and
given a label throughout this process.
● Writing the structural description were used to ensure that the theme and
associated invariant components were explicitly expressed and consistent with the
participants' words, the complete transcripts were read again.
● Finding the essence of these themes served as the foundation for the creation of
specific and comprehensive textual, structural, and textural-structural descriptions
that came together to capture the essence of the experience. This text presents
various themes.
Trustworthiness
Trustworthiness (rigor or evaluative criteria for quality). Lincoln and Guba (1985)
rely on four general criteria in their approach to trustworthiness. These are credibility,
transferability, dependability, and confirmability. The IPA, like other qualitative methods
of analysis, is open to constructive criticism regarding the processes' validity. The primary
concern is the researchers' ability to avoid imposing their biases and values on the study
during the analysis stage. Several precautions were taken to ensure the purity of the
participants' perspectives (Creswell 2013; Maxwell 2012) .
Evaluative Criteria Description
Credibility Participants were free to express their opinions about their

experiences. Furthermore, the participants' perspectives were
directly quoted, and when the researchers made observations,
14
New Era University
the referred comments were also directly quoted.
Transferability Throughout the data analysis, the researchers kept a strict audit
trail of reflective memos in order to separate the researchers'
perspectives from those of the participants.
Dependability Member checking was carried out by emailing analytical

categories, findings, and interpretations of the findings to
participants, who could then suggest changes and clarifications.
Confirmability To confirm the researchers' analyses, an experienced qualitative

researcher was asked to review the interview transcripts,
analytical memos and notes, and study findings.
Table 2: Evaluative Criteria
Strategies for Each Criteria
Credibility 1. Prolonged engagement 7. Well-established research

methods
2. Persistent observations 8. Honesty in informants
3. Triangulation 9. Iterative questioning
4. Peer debriefing 10. Researcher’s reflective
commentary
5. Negative case analysis 11. Expertise of the
researcher
6. Member checking 12. Examination of previous
research findings
Transferability 1. The researcher’s use a thick description, which includes

providing adequate details on the site, participants, and
data collection methods or procedures used during this
study.
Dependability 1. The researcher was careless or made mistakes when

conceptualizing the study, collecting data, interpreting
findings, and reporting findings.
Confirmability 1. By providing an audit trail that details each step of data

analysis and demonstrates that study findings are not
influenced by conscious or unconscious bias but
accurately depict the participants' responses)
Table 3: Strategies for Each Criteria
Reflexivity Statement - Researcher’s Positionality
Reflexivity involves examining the researcher’s judgments, practices, and belief
system during the data collection process. The goal of being reflexive is to identify any
15
New Era University
personal beliefs that may have incidentally affected the research self-reflective questions
to help clarify biases include:
Both researchers made efforts to bracket existing biases or assumptions in order
for the researchers to avoid speaking for the data. To avoid bias, notes were taken on all
preconceived notions about the study population that arose in order to bracket these
preconceived notions assumptions made during data collection and analysis (Lincoln &
Guba, 1985). Thus, the researchers present these findings as only one possible
interpretation of these microfinance Borrowers' lived poverty alleviation experiences in
terms of their standard of living and/or prior to business operation.
Ethical Considerations
In this study the researcher followed two standards in order to protect the privacy
of the research participants. First, participants assured that their responses were treated
confidentially and with anonymity of the participants. Second, no person or firm has
access to their completed interviews. In addition to this, the researchers report the
findings completely and honestly without any change in the participants’ response to
support personal interest.
16
New Era University
Chapter 3
RESULTS
In this study, three themes emerged from the borrowers' experiences with
microfinance: (1) investment, (2) improved standard of living, and (3) improved well-being
(Table 2). To protect the identities of participants, code used throughout the results
section are presented under pseudonyms.
Theme Category Code
Microfinance Products Loan Capital
Start new business

Business Investment
Investment Improve current business
Increased Sales
Business Activity
Increased Profits
Increased Household Proper use of money and

Income business.
Health
Improved Standard of
Living Increased Household
Education
Spending on
Other Assets
Intellectual Education
Psychological Life
Improved Well-being Physiological Health
Satisfaction
Social Empowerment
Table 4 Results: Themes, Category, and Codes
17
New Era University
TABLE FOR DATA ANALYSIS
PRE-CODING
Research Interview Participants Codes Category Theme

Question Question responses
1. What was the A. Tell me P1 - Shirley: 14 years na - Quezon City Business Investment
life of the something about akong nagtitinda. - Food industry Investment
borrowers before your business Syempre hindi maiiwasan - 0 employees
and during (location, industry, na hindi ka nag baborrow - 14 years in the
microfinance? number of ng puhunan. business
employees, number - Borrowed
of years in the P1 - Shirley: Eto, dati nag money for capital
business, source of ggrocery ako kaso - Sari-sari stores
capital financing). ngayon wala akong stock as the main
kasi may pinuntahan source of
kaming meeting. income.
B. What was your P1 - Shirley: Mas - amortization Business Investment

business situation mahirap yung may payment Investment
before and during hinuhulugan. Pinagawa
microfinance? kasi yung bahay namin
kaya meron ka pang
ibang hinuhulugan. May
mga balance pa. So buti
may sarili kang puhunan.
C. Describe your P1 - Shirley: Ang ano - Life insurance Increased Improve

standard of living nyan, meron kang parang Household standard of
before and during insurance. Basta insured Spending on living
microfinance? (level ka.
of household
income, availability
and quality of
housing, access to
health care, access
to education and
access to social
services).
2. What are the A. What factors P1 - Shirley: Ano kasi - Loan increased Microfinance Investment
problems and made you decide to sya, grupo. Grupo. Pag Products
challenges apply for tumagal ka na, kung good
experienced by microfinance? payer ka, pwede ka nang
microfinance maging single. Tapos
borrowers? aakyat yung loan mo.
Tumataas.
B. What are the P1 - Shirley: Hindi naman - Requirements - Business - Investment

problems ako nahirapan. Yung mga Investment
encountered in requirements lang. Pero
applying for pag regular ka nang
microfinance? nagloloan, bayad ka lang
ng bayad tapos magfifill
up ka lang ng renewal. Sa
una lang mahirap dahil sa
mga requirements.
18
New Era University
C. While under P1 - Shirley: Ayan, - Group of - Business - Investment

microfinancing what dumadami yung mga weekly payers Investment
were the challenges kasama mo. Tapos
that you merong microfinance na
encountered? grupo. Merong single.
Pag matagal ka na, single
ka na at wala ka nang
kagrupo. Yung
microfinance may apat na
part: Housing Loan,
Negosyo Loan,
Educational Loan at
Noche Buena Loan.
3. How does A. How does P1 - Shirley: Nung nag - Continuous - Business - Investment
microfinance microfinance affect lockdown medyo mabigat payment even Activity
affect business your business kasi kahit naglockdown, during lockdown
operations and operations? tuloy tuloy parin ang hulog
standard of tapos humina yung kita - Low income
living? mo. Nung nag lockdown due to lockdown
mabigat kasi ang
microfinance walang - Calamity is not
bagyo, walang calamity, an exception
tuloy tuloy ang hulog.
P1 - Shirley: Weekly, oo.
B. How does P1 - Shirley: Ano lang - Business low - Business - Investment

microfinance affect yan, kasi ano, regular income due to Investment
your standard of nang may sahod ang lockdown
living? anak at asawa ko, wala
naman. Bumigat lang - Arising
nung lockdown. Kasi competitors
dumami yung kalaban,
maraming nagtitinda.
C. How do you see P1 - Shirley: Yung iba - For self- - Business Investment
microfinance to kasi, kaya nagiging satisfaction only Activity
alleviate poverty? mabigat dahil hindi
ginagamit sa pang
negosyo. Ibibili ng kung - Proper use of
ano ano. Ang money to
microfinance ay para sa increase income.
pang kabuhayan,
umaangat ang buhay.
Hindi gaya ng pang luho
lang, pagkaraan ng ilang
linggo, wala ka nang pang
hulog.
P1 - Shirley: Ano, grupo

kami nag aabono.
P1 - Shirley: Oo. Pero

kapag tapos na, tapos na
ang 24 weeks, yung
pondo nya, ibabayad nya
sa amin. Ganun lang.
Halos kalahating taon,
kaya mabigat. Kaso may
savings naman kami.
P1 - Shirley: Depende
sa tagal. Kapag baguhan
ka lang, mga 360 sa
6,000 yun. Pag paangat
ng paangat, tumataas din
yung hinuhulugan mo,
tumataas din yung
savings mo.
19
New Era University
D. What are the P1 - Shirley: Mahirap - Enjoyed Increased Improve

important insights siya iwanan. Para bang microfinance Household standard of
that you would like yung buhay mo, in case because of its Spending on living
to share about na maaksidente ka, benefits
microfinance? insured ka na. Ang including life
lending ko, apat, hindi insurance.
lang isa.
Table 3 Pre-coding: (Shirley Regarde - 2022)

1. What was the life A. Tell me P2 - Melanie: Sa - Quezon City - Business Investment
of the borrowers something about kasama, ako lang. Ang Activity
before and during your business business ay food - Food industry
microfinance? (location, industry, handling. Pang - Microfinance
number of meryenda. Burger, fries, - 0 employees Products
employees, number ganon.
of years in the - more than 5
business, source of P2 - Melanie: 5 Years years in the
capital financing). mahigit. business
P2 - Melanie: Yung una - Decrease of

talaga is ano. Maliit lang sales
kasi siya eh yung capital
ko dito. Pero yung sa - Borrowed
ipon ba. Ipon muna. money for
Syempre hindi naman business
maaalis sa buhay natin financing.
yung nagigipit. Medyo
nag lalaylo siya. Tapos
minsan medyo mahina
yung kita, parang gusto
mo na “ayy umutang
kaya ako” para may
puhunan. Ganon.
B. What was your P2 -Melanie: Nung wala - Steady - Business - Investment

business situation pa, parang steady lang business Investment
before and during kasi isa palang yung situation
microfinance? napoproduce ko na
product. Tapos nung - Additional
parang napapalago lago Equipments
ko na sya, nadagdagan
na siya ng equipments. - Capital
Kasi syempre, isipin mo, Investment
meron kasi akong nakita
sa internet na yung
capital mo dapat iano mo
siya ng panibago, hindi
yung iwawaldas mo siya.
Parang dun ko siya
natutunan. Para lumago
siya.
20
New Era University
C. Describe your P2 - Melanie: Dati ano, - Insufficient - Business - Investment

standard of living syempre hindi mo money for needs Activity
before and during mabibili yung gusto mo. before entering - Improve
microfinance? (level Material man yun or microfinance - Business standard of living
of household hindi. Tapos ngayon Investment
income, availability medyo nakakaano na. - Lack of - Improved well-
and quality of Halimbawa yung manpower - Increased being
housing, access to cellphone, yung mga Household
health care, access gadget gadget muna na - Improves life Spending on
to education and kailangan as in sa pang after entering
access to social araw araw diba. Yung iba microfinance - Increased
services). nga nagtatanong, “ate Household
nagdedeliver ka ba?” sabi - Psychological Income
ko “ayy hindi pwede, wala Life Satisfaction
akong manpower”, kasi
wala akong katulong e.
Syempre kailangan mo
ng ganun diba. Ngayon,
parang nakakaluwag
luwag ba, kumpara noon.
2. What are the A. What factors P2 - Melanie: Pang - Sustains Increased Improve standard
problems and made you decide to puhunan din. Tapos yung educational Household of living
challenges apply for time na din kasi na nag needs. Spending on
experienced by microfinance? aral na yung anak ko sa
microfinance private. Ayun, dun na ako
borrowers? nag try mag ano. Para
kasi sa pag aaral ng anak
ko, importante.
B. What are the P2 - Melanie: Wala, mga - Requirements - Business - Investment

problems slight slight lang. Wala Investment
encountered in naman masyadong
applying for problema. Siguro yung
microfinance? mga sa papel papel lang.
Requirements.
C. While under P2 - Melanie: Yung pag - Insufficient - Business - Investment

microfinancing what mahina hina yung benta funds for weekly Activity
were the challenges mo, tapos maghuhulog payments
that you ka na. Dun talaga.
encountered?
3. How does A. How does P2 - Melanie: Lumago. - Improved in - Business - Investment

microfinance affect microfinance affect Dati kasi fries at ganito current business Investment
business operations your business lang, tapos nung lumago,
and standard of operations? nag siomai na ko. - Business
living? Syempre pagugulungin Activity
ko ulit siya. Tapos nag
isip ako ng pandagdag
ba, na product kaya
ayun.
B. How does P2 - Melanie: - Proper handle - Business - Investment

microfinance affect Nakakatulong naman of money Activity
your standard of siya talaga, pag alam mo
living? siya ihandle at nasa
tamang paraan mo siya
gagamitin.
C. How do you see P2 - Melanie: - Proper use of - Business - Investment

microfinance to Nakakatulong siya kung money and Activity
alleviate poverty? gagamitin siya sa tamang business.
paraan. Yun talaga. Yun
lang talaga masasabi ko.
Kasi kung gaagamitin mo
siya para lang pambili ng
luho mo, hindi talaga siya
makakatulong. Pero pag
ginamit mo siya sa
tamang paraan at
21
New Era University
papaikutin mo, swak

talaga yun.
D. What are the P2 - Melanie: Gamitin - Efficient use of - Business - Investment

important insights lang talaga sa tama. Funds Investment
that you would like to Number one talaga yun
share about kasi kapag ginamit mo
microfinance? lang yun para sa luho
hindi talaga mag iimprove
yung business mo. Kasi
halimbawa, ginamit mo
siya para sa luho mo,
tapos wala namang
bumabalik, malulubog ka
talaga.
Table 5 Pre-coding: (Melanie Beljica - 2022)

1. What was the A. Tell me P3 - Flordeliza: Ano siya - Quezon City -Business - Investment
life of the something about eh looban kaya parang - Retail store Activity
borrowers before your business hindi masyadong ano - 0 Employee
and during (location, industry, (kita). -1 year in the
microfinance? number of business
employees, number P3 - Flordeliza: Sari-sari - No increase of
of years in the store. sales due to its
business, source of location
capital financing). P3 - Flordeliza: Walang
employees.
B. What was your P3 - Flordeliza: - Increased of - Business - Investment

business situation Nakakakuha naman kami profit Activity
before and during ng konting budget dun sa
microfinance? sa store. Yun yung - Enough to - Increased - Improve
ginagawang puhunan. sustain needs household standard of living
income
P3 - Flordeliza:
Binibigyan ako ng anak
ko para mabigyan ako ng
dagdag buget pang kain.
C. Describe your P3 - Flordeliza: Parang - Unstable - Business - Investment

standard of living ganon parin, kasi hindi business Investment
before and during naman malakas eh,
microfinance? (level looban kasi.
of household
income, availability P3 - Flordeliza - 3 years
and quality of sa lending, wala pang 1
housing, access to year sa business.
health care, access
to education and
access to social
services).
2. What are the A. What factors P3 - Flordeliza: Pang- -Loan Capital - Microfinance - Investment
problems and made you decide to puhunan. Products
challenges apply for
experienced by microfinance?
22
New Era University
microfinance B. What are the P3 - Flordeliza: Wala - Easy process - Business - Investment
borrowers? problems naman. of applying Activity
encountered in -No problems
applying for P3 - Flordeliza - Hindi encountered
microfinance? ako nahirapan mag apply
sa microfinance kasi
rehistrado ako.
C. While under P3 - Flordeliza: Yung - Unable to pay - Business - Investment

microfinancing what paglalabas ko ng loans Activity
were the challenges puhunan kapag wala - Poor sales
that you nang maibayad sa
encountered? sobrang dalang kumita.
3. How does A. How does P3 - Flordeliza: Ano lang - Cycle of - Business - Investment
microfinance microfinance affect yung kapag may benta loaning and Activity
affect business your business ipamili ko ulit. paying
operations and operations?
standard of P3 - Flordeliza: Walang - No sign of
living? paglago na nangyayari improvement in
kasi kapag may utang business
minsan wala na, minsan
tagal bayaran syempre
mag lalabas ka ng
puhunan.
P3 - Flordeliza: Yun
talaga yung problema sa
tindahan, hindi masyado
kumikita.
B. How does P3 - Flordeliza: Okay - Other source of - Increased - Improve

microfinance affect lang kasi lahat ng anak income are Household Standard of
your standard of ko may trabaho naman. being used Income Living
living?
P3 - Flordeliza:
Nakakabayad naman ng
bills, wala namang
problema.
C. How do you see P3 - Flordeliza: Yun - Improve current - Business - Investment

microfinance to halimbawa wala ng business Investment
alleviate poverty? puhunan mag loloan ka
ilalagay mo ulit dun sa
tindahan.
D. What are the P3 - Flordeliza: -Reserved funds -Increased -Improve

important insights Kailangan talaga for loan payment Household Standard of
that you would like to mayroon kang pang Income Living
share about suportang panghulog dun
microfinance? sa lending mo hindi mo
rin pwedeng asahan lang
yung tindahan, kailangan
may suporta galing dun
sa mga anak.
Table 6 Pre-coding: (Flordeliza Velloz - 2022)
23
New Era University

1. What was the A. Tell me P4 - Evelyn: Dry goods - Quezon City - Business - Investment
life of the something about (food industry) yung mga - Food industry Investment
borrowers before your business sibuyas, balot, penoy mga - 0 employee - Business
and during (location, industry, almusal. - 4 years in the - Capital Loan
microfinance? number of business - Microfinance
employees, number P4 - Evelyn: Dito sa - Business as Product
of years in the Sentelya. Kami lang, one of their
business, source of sariling negosyo. Four source of income
capital financing). years na. Sa ano, sa kita - Borrowed
ng asawa ko taposs money for
pinapaikot ko para kumita. business
financing.
P4 - Evelyn: Ano lang
maliit lang naman na ano,
maliit lang ang puhunan
ko tapos nung may nag-
alok samin ng
microfinance kumuha ako
para madagdagan ang
aking pambili ng paninda
ko, puhunan.
B. What was your P4 - Evelyn: Ano lang - Improve current - Business - Investment
business situation maliit lang naman na ano, business Investment
before and during maliit lang ang puhunan
microfinance? ko tapos nung may nag-
alok samin ng
microfinance kumuha ako
para madagdagan ang
aking pambili ng paninda
ko, puhunan.
C. Describe your P4 - Evelyn: Okay - Increased - Business - Investment

standard of living naman, okay naman Sales Activity
before and during ‘yong pagnenegosyo ko
microfinance? (level hanggang ngayon. - Education for - Increased - Improve
of household children are Household standard of living
income, availability P4 - Evelyn: Yung attained spending on
and quality of income naman, maganda
housing, access to naman kasi kumikita
health care, access naman yung paninda ko
to education and kahit papano lumalago
access to social yung, hiniram kong pera
services). sa Microfinance.
P4 - Evelyn: Okay
naman, naayos ko naman
yung sa pag-aaral ng mga
anak ko.
2. What are the A. What factors P4 - Evelyn: Para - Increase in - Business - Investment
problems and made you decide to madagdagan ang aking inventories for Activity
challenges apply for puhunan, kasi may profit
experienced by microfinance? dinagdag din akong maximization
microfinance paninda.
borrowers?
B. What are the P4 - Evelyn: May mga - Requirements - Business - Investment

problems requirements na Investment
encountered in pinapapasa samin, hindi
applying for sa tulad sa bumbay, dito
microfinance? marami mga
requirements para
makumpleto kaya, para
mareleasan kami.
24
New Era University
C. While under P4 - Evelyn: Kahit - Insufficient - Business - Investment

microfinancing what papaano minsan funds to pay Activity
were the challenges magigipit ka, pero agad weekly.
that you naman naming
encountered? nasusurvive nahuhulugan
naman namin, ang
pagbabayad sa
microfinance.
3. How does A. How does P4 - Evelyn: Hindi naman - Stable - Business - Investment
microfinance microfinance affect nakaapekto, kasi kahit business Investment
affect business your business papaano nakakatulong operations
operations and operations? naman sa puhunan. - Increase of
standard of profit
living?
B. How does P4 - Evelyn: Okay - Weekly - Business - Investment
microfinance affect naman, nag bago lang ng payments Investment
your standard of kaunti, kasi syempre nung
living? wala kang utang sa
Microfinance wala kang
iniisip na pagbabayad,
noong nangutang ka
syempre iniisip mo na,
every week na may
babayaran ka.
C. How do you see P4 - Evelyn: Kahit - Increased - Increased - Improve

microfinance to papaano nakakatulong sa income. household standard of living
alleviate poverty? amin, kasi may income
napupuntahan kami
kapag kami ay nagigipit,
may nauutangan kami.
D. What are the P4 - Evelyn: Kahit - Life Insurance - Physiological - Improved Well-
important insights papaano maganda kasi provided Health being
that you would like to ang microfinance, ang
share about microfinance kasi hindi - Compensation
microfinance? lang sa pangungutang, for unexpected
may savings kami at loss
unang-una may insurance
kami, hindi katulad ng
mangungutang kalang sa
mga tao, dito safety na
ang buhay namin kahit
papano, safe yung buhay
namin kung mawala kami
may insurance kami yun
ang malaki sa
microfinance.
Table 7 Pre-coding: (Evelyn Mejica - 2022)

1. What was the A. Tell me P5 Rowena: Ako po si - Quezon City - Microfinance - Investment
life of the something about Rowena Cruz, isang - Food industry Loan
borrowers before your business mother. - 0 employee - Business
and during (location, industry, - 1 year in the Investment
microfinance? number of P5 Rowena: Ang location business
employees, number is dito lang sa street -Microfinance as
of years in the namin. Siomai (food the source of
business, source of industry) 1 year mahigit. income
capital financing). (number of years in the
business).
P5 Rowena: Sa
Microfinance. (Source of
capital Financing)
25
New Era University
B. What was your P5 Rowena: Before kasi - Loan Capital - Business - Investment
business situation nahihirapan kami dahil - Start new Investment
before and during wala ngang naging business
microfinance? puhunan. Sa
microfinance,
napakaganda ng ano nila,
kasi nagpautang sila sa
mga tao upang maging
business.
C. Describe your P5 Rowena: Nadadagan - Growth in - Increased - Improve

standard of living ‘yong income namin dahil earnings Household Standard of
before and during nagkaroon nga kami ng Income Living
microfinance? (level small business. - Health,
of household housing, and
income, availability P5 Rowena: Maayos education needs
and quality of naman ( quality of housing are being met
housing, access to and access to health and
health care, access education)
to education and
access to social
services).
2. What are the A. What factors P5 Rowena: Nag-apply - Loan capital - Business - Investment
problems and made you decide to kami sa Microfinance kasi Investment
challenges apply for nga para magkaroon kami
experienced by microfinance? ng puhunan sa magiging
microfinance business namin.
borrowers?
B. What are the P5 Rowena: Wala - No problems - Business - Investment
problems naman. encountered Activity
encountered in
applying for
microfinance?
C. While under P5 Rowena: Yong ano - Weekly - Business - Investment

microfinancing what lang, weekly na paghulog payment Activity
were the challenges microfinance, pero okay
that you naman.
encountered?
3. How does A. How does P5 Rowena: Malaki rin - Had another - Business - Investment
microfinance microfinance affect naging epekto dahil source of income Activity
affect business your business nagkaroon kami ng small
operations and operations? business na siomai. - Increased
standard of Maganda ang naging Sales
living? epekto.
B. How does P5 Rowena: Okay - Up to standard - Increased - Improve

microfinance affect naman. Household Standard of
your standard of Income Living
living?
C. How do you see P5 Rowena: Malaki ang - Start new - Business - Invesment
microfinance to naitulong ng microfinance business Investment
alleviate poverty? kasi nga sa katulad natin
na walang capital para - Loan Capital
magstart ng business,
nagpautang sila
(Microfinance) para sa
mga taong gustong
magkaroon ng business.
D. What are the P5 Rowena: Okay naman - Low interest - Business - Investment
important insights ‘yong microfinance kasi Investment
that you would like to okay naman yong naging - Effective
share about ano (tulong) nila sa process for
microfinance? pagpapautang sa mga tao starting up
para nga magkaroon ng
business sa mababang
interest.
Table 8 Pre-coding: (Rowena Cruz - 2022)
26
New Era University
TABLE FOR DATA ANALYSIS
FINAL-CODING
Research Interview Participants Codes Final

Question Question responses Codes
1. What was the A. Tell me P1 - Shirley: 14 years na - Quezon City P1 - Shirley: 14 years Improve
life of the something about akong nagtitinda. - Food na akong nagtitinda. Current
borrowers before your business Syempre hindi maiiwasan industry Syempre hindi Business
and during (location, industry, na hindi ka nag baborrow - 0 employees maiiwasan na hindi ka
microfinance? number of ng puhunan. - 14 years in nag baborrow ng
employees, number the business puhunan.
of years in the P1 - Shirley: Eto, dati - Borrowed
business, source of nag ggrocery ako kaso money for P1 - Shirley: Eto, dati
capital financing). ngayon wala akong stock capital nag ggrocery ako kaso
kasi may pinuntahan - Sari-sari ngayon wala akong
kaming meeting. stores as the stock kasi may
main source pinuntahan kaming
of income. meeting.
B. What was your P1 - Shirley: Mas - amortization P1 - Shirley: Mas Improve

business situation mahirap yung may payment mahirap yung may Current
before and during hinuhulugan. Pinagawa hinuhulugan. Business
microfinance? kasi yung bahay namin Pinagawa kasi yung
kaya meron ka pang bahay namin kaya
ibang hinuhulugan. May meron ka pang ibang
mga balance pa. So buti hinuhulugan. May mga
may sarili kang puhunan. balance pa. So buti
may sarili kang
puhunan.
C. Describe your P1 - Shirley: Ang ano - Life P1 - Shirley: Ang ano Health
standard of living nyan, meron kang parang insurance nyan, meron kang
before and during insurance. Basta insured parang insurance.
microfinance? (level ka. Basta insured ka.
of household
income, availability
and quality of
housing, access to
health care, access
to education and
access to social
services).
2. What are the A. What factors P1 - Shirley: Ano kasi - Loan P1 - Shirley: Ano kasi Loan Capital
problems and made you decide to sya, grupo. Grupo. Pag increased sya, grupo. Grupo.
challenges apply for tumagal ka na, kung Pag tumagal ka na,
experienced by microfinance? good payer ka, pwede ka kung good payer ka,
microfinance nang maging single. pwede ka nang
borrowers? Tapos aakyat yung loan maging single. Tapos
mo. Tumataas. aakyat yung loan mo.
Tumataas.
B. What are the P1 - Shirley: Hindi - P1 - Shirley: Hindi Start new

problems naman ako nahirapan. Requirements naman ako nahirapan. business
encountered in Yung mga requirements Yung mga
applying for lang. Pero pag regular ka requirements lang.
microfinance? nang nagloloan, bayad ka Pero pag regular ka
lang ng bayad tapos nang nagloloan, bayad
magfifill up ka lang ng ka lang ng bayad
renewal. Sa una lang tapos magfifill up ka
mahirap dahil sa mga lang ng renewal. Sa
requirements. una lang mahirap dahil
sa mga requirements.
27
New Era University
C. While under P1 - Shirley: Ayan, - Group of P1 - Shirley: Ayan, Improve

microfinancing what dumadami yung mga weekly payers dumadami yung mga current
were the challenges kasama mo. Tapos kasama mo. Tapos business
that you merong microfinance na merong microfinance
encountered? grupo. Merong single. na grupo. Merong
Pag matagal ka na, single. Pag matagal ka
single ka na at wala ka na, single ka na at
nang kagrupo. Yung wala ka nang kagrupo.
microfinance may apat na Yung microfinance
part: Housing Loan, may apat na part:
Negosyo Loan, Housing Loan,
Educational Loan at Negosyo Loan,
Noche Buena Loan. Educational Loan at
Noche Buena Loan.
3. How does A. How does P1 - Shirley: Nung nag - Continuous P1 - Shirley: Nung Decreased
microfinance microfinance affect lockdown medyo mabigat payment even nag lockdown medyo sales
affect business your business kasi kahit naglockdown, during mabigat kasi kahit
operations and operations? tuloy tuloy parin ang lockdown naglockdown, tuloy
standard of hulog tapos humina yung tuloy parin ang hulog
living? kita mo. Nung nag - Low income tapos humina yung
lockdown mabigat kasi due to kita mo. Nung nag
ang microfinance walang lockdown lockdown mabigat kasi
bagyo, walang calamity, ang microfinance
tuloy tuloy ang hulog. - Calamity is walang bagyo, walang
not an calamity, tuloy tuloy
P1 - Shirley: Weekly, oo. exception ang hulog.
P1 - Shirley: Weekly,
oo.
B. How does P1 - Shirley: Ano lang - Business P1 - Shirley: Ano lang Improve
microfinance affect yan, kasi ano, regular low income yan, kasi ano, regular current
your standard of nang may sahod ang due to nang may sahod ang business
living? anak at asawa ko, wala lockdown anak at asawa ko,
naman. Bumigat lang wala naman. Bumigat
nung lockdown. Kasi - Arising lang nung lockdown.
dumami yung kalaban, competitors Kasi dumami yung
maraming nagtitinda. kalaban, maraming
nagtitinda.
28
New Era University
C. How do you see P1 - Shirley: Yung iba - For self- P1 - Shirley: Yung iba - Increased
microfinance to kasi, kaya nagiging satisfaction kasi, kaya nagiging Sales
alleviate poverty? mabigat dahil hindi only mabigat dahil hindi
ginagamit sa pang ginagamit sa pang - Increase
negosyo. Ibibili ng kung negosyo. Ibibili ng Profit
ano ano. Ang - Proper use kung ano ano. Ang
microfinance ay para sa of money to microfinance ay para
pang kabuhayan, increase sa pang kabuhayan,
umaangat ang buhay. income. umaangat ang buhay.
Hindi gaya ng pang luho Hindi gaya ng pang
lang, pagkaraan ng ilang luho lang, pagkaraan
linggo, wala ka nang ng ilang linggo, wala
pang hulog. ka nang pang hulog.
P1 - Shirley: Ano, grupo P1 - Shirley: Ano,

kami nag aabono. grupo kami nag
aabono.
P1 - Shirley: Oo. Pero
kapag tapos na, tapos na P1 - Shirley: Oo. Pero
ang 24 weeks, yung kapag tapos na, tapos
pondo nya, ibabayad nya na ang 24 weeks,
sa amin. Ganun lang. yung pondo nya,
Halos kalahating taon, ibabayad nya sa amin.
kaya mabigat. Kaso may Ganun lang. Halos
savings naman kami. kalahating taon, kaya
P1 - Shirley: Depende mabigat. Kaso may
sa tagal. Kapag baguhan savings naman kami.
ka lang, mga 360 sa P1 - Shirley:
6,000 yun. Pag paangat Depende sa tagal.
ng paangat, tumataas din Kapag baguhan ka
yung hinuhulugan mo, lang, mga 360 sa
tumataas din yung 6,000 yun. Pag
savings mo. paangat ng paangat,
tumataas din yung
hinuhulugan mo,
tumataas din yung
savings mo.
D. What are the P1 - Shirley: Mahirap - Enjoyed P1 - Shirley: Mahirap Health

important insights siya iwanan. Para bang microfinance siya iwanan. Para
that you would like to yung buhay mo, in case because of its bang yung buhay mo,
share about na maaksidente ka, benefits in case na
microfinance? insured ka na. Ang including life maaksidente ka,
lending ko, apat, hindi insurance. insured ka na. Ang
lang isa. lending ko, apat, hindi
lang isa.
Table 9 Final coding: (Shirley Regarde - 2022)
Research Interview Participants Codes Final Code

1. What was the A. Tell me P2 - Melanie: Sa - Quezon City P2 - Melanie: Sa Loan Capital
life of the something about kasama, ako lang. Ang kasama, ako lang.
borrowers before your business business ay food - Food Ang business ay food Decreased of
and during (location, industry, handling. Pang industry handling. Pang Sales
microfinance? number of meryenda. Burger, fries, meryenda. Burger,
employees, number ganon. -0 fries, ganon.
of years in the employees
business, source of P2 - Melanie: 5 Years P2 - Melanie: 5
capital financing). mahigit. - more than 5 Years mahigit.
years in the
P2 - Melanie: Yung una business P2 - Melanie: Yung
talaga is ano. Maliit lang una talaga is ano.
kasi siya eh yung capital Maliit lang kasi siya
ko dito. Pero yung sa - Borrowed eh yung capital ko
ipon ba. Ipon muna. money for dito. Pero yung sa
Syempre hindi naman business ipon ba. Ipon muna.
maaalis sa buhay natin financing. Syempre hindi
yung nagigipit. Medyo naman maaalis sa
nag lalaylo siya. Tapos buhay natin yung
minsan medyo mahina nagigipit. Medyo nag
yung kita, parang gusto lalaylo siya. Tapos
mo na “ayy umutang minsan medyo
29
New Era University
kaya ako” para may mahina yung kita,

puhunan. Ganon. parang gusto mo na
“ayy umutang kaya
ako” para may
puhunan. Ganon.
B. What was your P2 -Melanie: Nung wala - Steady P2 -Melanie: Nung Improve
business situation pa, parang steady lang business wala pa, parang current
before and during kasi isa palang yung situation steady lang kasi isa business
microfinance? napoproduce ko na palang yung
product. Tapos nung - Additional napoproduce ko na Increased
parang napapalago lago Equipments product. Tapos nung Sales
ko na sya, nadagdagan parang napapalago
na siya ng equipments. - Capital lago ko na sya,
Kasi syempre, isipin mo, Investment nadagdagan na siya
meron kasi akong nakita ng equipments. Kasi
sa internet na yung syempre, isipin mo,
capital mo dapat iano mo meron kasi akong
siya ng panibago, hindi nakita sa internet na
yung iwawaldas mo siya. yung capital mo
Parang dun ko siya dapat iano mo siya
natutunan. Para lumago ng panibago, hindi
siya. yung iwawaldas mo
siya. Parang dun ko
siya natutunan. Para
lumago siya.
C. Describe your P2 - Melanie: Dati ano, - Insufficient P2 - Melanie: Dati - Improve

standard of living syempre hindi mo money for ano, syempre hindi current
before and during mabibili yung gusto mo. needs before mo mabibili yung business
microfinance? (level Material man yun or entering gusto mo. Material
of household hindi. Tapos ngayon microfinance man yun or hindi. - Increased
income, availability medyo nakakaano na. Tapos ngayon medyo Profit
and quality of Halimbawa yung - Lack of nakakaano na.
housing, access to cellphone, yung mga manpower Halimbawa yung - Psychological
health care, access gadget gadget muna na cellphone, yung mga Life
to education and kailangan as in sa pang - Improves gadget gadget muna Satisfaction
access to social araw araw diba. Yung iba life after na kailangan as in sa
services). nga nagtatanong, “ate entering pang araw araw diba.
nagdedeliver ka ba?” sabi microfinance Yung iba nga
ko “ayy hindi pwede, wala nagtatanong, “ate
akong manpower”, kasi nagdedeliver ka ba?”
wala akong katulong e. sabi ko “ayy hindi
Syempre kailangan mo pwede, wala akong
ng ganun diba. Ngayon, manpower”, kasi wala
parang nakakaluwag akong katulong e.
luwag ba, kumpara noon. Syempre kailangan
mo ng ganun diba.
Ngayon, parang
nakakaluwag luwag
ba, kumpara noon.
2. What are the A. What factors P2 - Melanie: Pang - Sustains P2 - Melanie: Pang Education
problems and made you decide to puhunan din. Tapos yung educational puhunan din. Tapos
challenges apply for time na din kasi na nag needs. yung time na din kasi
experienced by microfinance? aral na yung anak ko sa na nag aral na yung
microfinance private. Ayun, dun na ako anak ko sa private.
borrowers? nag try mag ano. Para Ayun, dun na ako
kasi sa pag aaral ng anak nag try mag ano.
ko, importante. Para kasi sa pag
aaral ng anak ko,
importante.
B. What are the P2 - Melanie: Wala, mga - P2 - Melanie: Wala, - Start new
problems slight slight lang. Wala Requirements mga slight slight lang. business
encountered in naman masyadong Wala naman
applying for problema. Siguro yung masyadong
microfinance? mga sa papel papel lang. problema. Siguro
Requirements. yung mga sa papel
papel lang.
Requirements.
30
New Era University
C. While under P2 - Melanie: Yung pag - Insufficient P2 - Melanie: Yung Decreased

microfinancing what mahina hina yung benta funds for pag mahina hina Sales
were the challenges mo, tapos maghuhulog weekly yung benta mo, tapos
that you ka na. Dun talaga. payments maghuhulog ka na.
encountered? Dun talaga.
3. How does A. How does P2 - Melanie: Lumago. - Increased of P2 - Melanie: - Investment

microfinance microfinance affect Dati kasi fries at ganito sales Lumago. Dati kasi
affect business your business lang, tapos nung lumago, fries at ganito lang,
operations and operations? nag siomai na ko. - Start new tapos nung lumago,
standard of living? Syempre pagugulungin business nag siomai na ko.
ko ulit siya. Tapos nag Syempre
isip ako ng pandagdag pagugulungin ko ulit
ba, na product kaya siya. Tapos nag isip
ayun. ako ng pandagdag
ba, na product kaya
ayun.
B. How does P2 - Melanie: - Proper - Business Activity Increased

microfinance affect Nakakatulong naman handle of Profit
your standard of siya talaga, pag alam mo money
living? siya ihandle at nasa
tamang paraan mo siya
gagamitin.
C. How do you see P2 - Melanie: - Proper use - Business Activity Increased

microfinance to Nakakatulong siya kung of money and Profit
alleviate poverty? gagamitin siya sa tamang business.
paraan. Yun talaga. Yun
lang talaga masasabi ko.
Kasi kung gaagamitin mo
siya para lang pambili ng
luho mo, hindi talaga siya
makakatulong. Pero pag
ginamit mo siya sa
tamang paraan at
papaikutin mo, swak
talaga yun.
D. What are the P2 - Melanie: Gamitin - Efficient use - Business Start new
important insights lang talaga sa tama. of Funds Investment business
that you would like to Number one talaga yun
share about kasi kapag ginamit mo
microfinance? lang yun para sa luho
hindi talaga mag iimprove
yung business mo. Kasi
halimbawa, ginamit mo
siya para sa luho mo,
tapos wala namang
bumabalik, malulubog ka
talaga.
Table 10 Final coding: (Melanie Beljica - 2022)
Research Interview Participants Codes Theme

1. What was the A. Tell me P3 - Flordeliza: Ano siya - Quezon City P3 - Flordeliza: Ano Decreased
life of the something about eh looban kaya parang siya eh looban kaya Profits
borrowers before your business hindi masyadong ano - Retail store parang hindi
and during (location, industry, (kita). masyadong ano (kita).
microfinance? number of - 0 Employee
employees, number P3 - Flordeliza: Sari-sari P3 - Flordeliza: Sari-
of years in the store. -1 year in the sari store.
business, source of business
capital financing). P3 - Flordeliza: Walang P3 - Flordeliza:
employees. - No increase Walang employees.
of sales due to
its location
31
New Era University
B. What was your P3 - Flordeliza: P3 - Flordeliza: Start new

business situation Nakakakuha naman kami - Enough to Nakakakuha naman business
before and during ng konting budget dun sa sustain needs kami ng konting
microfinance? sa store. Yun yung budget dun sa sa
ginagawang puhunan. store. Yun yung
ginagawang puhunan.
P3 - Flordeliza:
Binibigyan ako ng anak P3 - Flordeliza:
ko para mabigyan ako ng Binibigyan ako ng
dagdag buget pang kain. anak ko para
mabigyan ako ng
dagdag buget pang
kain.
C. Describe your P3 - Flordeliza: Parang - Unstable P3 - Flordeliza: Unimprove

standard of living ganon parin, kasi hindi business Parang ganon parin, current
before and during naman malakas eh, kasi hindi naman business
microfinance? (level looban kasi. malakas eh, looban
of household kasi.
income, availability P3 - Flordeliza - 3 years
and quality of sa lending, wala pang 1 P3 - Flordeliza - 3
housing, access to year sa business. years sa lending, wala
health care, access pang 1 year sa
to education and business.
access to social
services).
2. What are the A. What factors P3 - Flordeliza: Pang- Investment P3 - Flordeliza: Pang- - Loan Capital
problems and made you decide to puhunan. puhunan.
challenges apply for
experienced by microfinance?
microfinance
borrowers?
B. What are the P3 - Flordeliza: Wala - Easy P3 - Flordeliza: Wala Start new
problems naman. process of naman. business
encountered in applying
applying for P3 - Flordeliza - Hindi -No problems P3 - Flordeliza - Hindi
microfinance? ako nahirapan mag apply encountered ako nahirapan mag
sa microfinance kasi apply sa microfinance
rehistrado ako. kasi rehistrado ako.
C. While under P3 - Flordeliza: Yung - Unable to P3 - Flordeliza: Yung - Decreased

microfinancing what paglalabas ko ng pay loans paglalabas ko ng Sales
were the challenges puhunan kapag wala puhunan kapag wala
that you nang maibayad sa - Poor sales nang maibayad sa
encountered? sobrang dalang kumita. sobrang dalang kumita.
3. How does A. How does P3 - Flordeliza: Ano lang - Cycle of P3 - Flordeliza: Ano Decreased
microfinance microfinance affect yung kapag may benta loaning and lang yung kapag may Profit
affect business your business ipamili ko ulit. paying benta ipamili ko ulit.
operations and operations?
standard of P3 - Flordeliza: Walang - No sign of P3 - Flordeliza:
living? paglago na nangyayari improvement Walang paglago na
kasi kapag may utang in business nangyayari kasi kapag
minsan wala na, minsan may utang minsan
tagal bayaran syempre wala na, minsan tagal
mag lalabas ka ng bayaran syempre mag
puhunan. lalabas ka ng
puhunan.
P3 - Flordeliza: Yun
talaga yung problema sa P3 - Flordeliza: Yun
tindahan, hindi masyado talaga yung problema
kumikita. sa tindahan, hindi
masyado kumikita.
32
New Era University
B. How does P3 - Flordeliza: Okay - Other source P3 - Flordeliza: Okay Other Assets
microfinance affect lang kasi lahat ng anak of income are lang kasi lahat ng anak
your standard of ko may trabaho naman. being used ko may trabaho
living? naman.
P3 - Flordeliza:
Nakakabayad naman ng P3 - Flordeliza:
bills, wala namang Nakakabayad naman
problema. ng bills, wala namang
problema.
C. How do you see P3 - Flordeliza: Yun - Improve P3 - Flordeliza: Yun - Investment

microfinance to halimbawa wala ng current halimbawa wala ng
alleviate poverty? puhunan mag loloan ka business puhunan mag loloan
ilalagay mo ulit dun sa ka ilalagay mo ulit dun
tindahan. sa tindahan.
D. What are the P3 - Flordeliza: -Reserved P3 - Flordeliza: Other Assets

important insights Kailangan talaga funds for loan Kailangan talaga
that you would like to mayroon kang pang payment mayroon kang pang
share about suportang panghulog dun suportang panghulog
microfinance? sa lending mo hindi mo dun sa lending mo
rin pwedeng asahan lang hindi mo rin pwedeng
yung tindahan, kailangan asahan lang yung
may suporta galing dun tindahan, kailangan
sa mga anak. may suporta galing
dun sa mga anak.
Table 11 Final-coding: (Flordeliza Velloz - 2022

1. What was the A. Tell me P4 - Evelyn: Dry goods - Quezon City P4 - Evelyn: Dry goods Loan Capital
life of the something about (food industry) yung mga - Food (food industry) yung
borrowers before your business sibuyas, balot, penoy mga industry mga sibuyas, balot,
and during (location, industry, almusal. - 0 employee penoy mga almusal.
microfinance? number of - 4 years in the
employees, number P4 - Evelyn: Dito sa business P4 - Evelyn: Dito sa
of years in the Sentelya. Kami lang, - Business as Sentelya. Kami lang,
business, source of sariling negosyo. Four one of their sariling negosyo. Four
capital financing). years na. Sa ano, sa kita source of years na. Sa ano, sa
ng asawa ko taposs income kita ng asawa ko taposs
pinapaikot ko para kumita. - Borrowed pinapaikot ko para
money for kumita.
P4 - Evelyn: Ano lang business
maliit lang naman na ano, financing. P4 - Evelyn: Ano lang
maliit lang ang puhunan maliit lang naman na
ko tapos nung may nag- ano, maliit lang ang
alok samin ng puhunan ko tapos nung
microfinance kumuha ako may nag-alok samin ng
para madagdagan ang microfinance kumuha
aking pambili ng paninda ako para madagdagan
ko, puhunan. ang aking pambili ng
paninda ko, puhunan.
B. What was your P4 - Evelyn: Ano lang Investment P4 - Evelyn: Ano lang Improve
business situation maliit lang naman na ano, maliit lang naman na current
before and during maliit lang ang puhunan ano, maliit lang ang business
microfinance? ko tapos nung may nag- puhunan ko tapos nung
alok samin ng may nag-alok samin ng
microfinance kumuha ako microfinance kumuha
para madagdagan ang ako para madagdagan
aking pambili ng paninda ang aking pambili ng
ko, puhunan. paninda ko, puhunan.
33
New Era University
C. Describe your P4 - Evelyn: Okay naman, P4 - Evelyn: Okay Increased

standard of living okay naman ‘yong naman, okay naman Profit
before and during pagnenegosyo ko - Education for ‘yong pagnenegosyo ko
microfinance? hanggang ngayon. children are hanggang ngayon. Education
(level of household attained
income, availability P4 - Evelyn: Yung income P4 - Evelyn: Yung
and quality of naman, maganda naman income naman,
housing, access to kasi kumikita naman yung maganda naman kasi
health care, access paninda ko kahit papano kumikita naman yung
to education and lumalago yung, hiniram paninda ko kahit
access to social kong pera sa papano lumalago yung,
services). Microfinance. hiniram kong pera sa
Microfinance.
P4 - Evelyn: Okay naman,
naayos ko naman yung sa P4 - Evelyn: Okay
pag-aaral ng mga anak ko. naman, naayos ko
naman yung sa pag-
aaral ng mga anak ko.
2. What are the A. What factors P4 - Evelyn: Para - Increase in P4 - Evelyn: Para Loan Capital
problems and made you decide to madagdagan ang aking inventories for madagdagan ang aking
challenges apply for puhunan, kasi may profit puhunan, kasi may
experienced by microfinance? dinagdag din akong maximization dinagdag din akong
microfinance paninda. paninda.
borrowers?
B. What are the P4 - Evelyn: May mga - P4 - Evelyn: May mga - Investment
problems requirements na Requirements requirements na
encountered in pinapapasa samin, hindi pinapapasa samin,
applying for sa tulad sa bumbay, dito hindi sa tulad sa
microfinance? marami mga requirements bumbay, dito marami
para makumpleto kaya, mga requirements para
para mareleasan kami. makumpleto kaya, para
mareleasan kami.
C. While under P4 - Evelyn: Kahit - Insufficient P4 - Evelyn: Kahit Decreased

microfinancing what papaano minsan magigipit funds to pay papaano minsan Profit
were the challenges ka, pero agad naman weekly. magigipit ka, pero agad
that you naming nasusurvive naman naming
encountered? nahuhulugan naman nasusurvive
namin, ang pagbabayad nahuhulugan naman
sa microfinance. namin, ang
pagbabayad sa
microfinance.
3. How does A. How does P4 - Evelyn: Hindi naman - Stable P4 - Evelyn: Hindi Improve
microfinance affect microfinance affect nakaapekto, kasi kahit business naman nakaapekto, current
business your business papaano nakakatulong operations kasi kahit papaano business
operations and operations? naman sa puhunan. - Increase of nakakatulong naman
standard of living? profit sa puhunan.
B. How does P4 - Evelyn: Okay naman, - Weekly P4 - Evelyn: Okay Loan Capital
microfinance affect nag bago lang ng kaunti, payments naman, nag bago lang
your standard of kasi syempre nung wala ng kaunti, kasi syempre
living? kang utang sa nung wala kang utang
Microfinance wala kang sa Microfinance wala
iniisip na pagbabayad, kang iniisip na
noong nangutang ka pagbabayad, noong
syempre iniisip mo na, nangutang ka syempre
every week na may iniisip mo na, every
babayaran ka. week na may
babayaran ka.
C. How do you see P4 - Evelyn: Kahit - Increased P4 - Evelyn: Kahit - Improve

microfinance to papaano nakakatulong sa income. papaano nakakatulong standard of
alleviate poverty? amin, kasi may sa amin, kasi may living
napupuntahan kami kapag napupuntahan kami
kami ay nagigipit, may kapag kami ay
nauutangan kami. nagigipit, may
nauutangan kami.
34
New Era University
D. What are the P4 - Evelyn: Kahit - Life P4 - Evelyn: Kahit - Improved

important insights papaano maganda kasi Insurance papaano maganda kasi Well-being
that you would like ang microfinance, ang provided ang microfinance, ang
to share about microfinance kasi hindi microfinance kasi hindi
microfinance? lang sa pangungutang, - lang sa pangungutang,
may savings kami at Compensation may savings kami at
unang-una may insurance for unexpected unang-una may
kami, hindi katulad ng loss insurance kami, hindi
mangungutang kalang sa katulad ng
mga tao, dito safety na mangungutang kalang
ang buhay namin kahit sa mga tao, dito safety
papano, safe yung buhay na ang buhay namin
namin kung mawala kami kahit papano, safe yung
may insurance kami yun buhay namin kung
ang malaki sa mawala kami may
microfinance. insurance kami yun ang
malaki sa microfinance.
Table 12 Final-coding: (Evelyn Mejica - 2022)

1. What was the life A. Tell me P5 Rowena: Ako po si - Quezon City P5 Rowena: Ako po si Loan Capital
of the borrowers something about Rowena Cruz, isang - Food industry Rowena Cruz, isang
before and during your business mother. - 0 employee mother.
microfinance? (location, industry, - 1 year in the
number of P5 Rowena: Ang location business P5 Rowena: Ang
employees, is dito lang sa street namin. -Microfinance location is dito lang sa
number of years in Siomai (food industry) 1 as the source street namin. Siomai
the business, year mahigit. (number of of income (food industry) 1 year
source of capital years in the business). mahigit. (number of
financing). years in the business).
P5 Rowena: Sa
Microfinance. (Source of P5 Rowena: Sa
capital Financing) Microfinance. (Source
of capital Financing)
B. What was your P5 Rowena: Before kasi - No reason to P5 Rowena: Before - Start a new
business situation nahihirapan kami dahil start a kasi nahihirapan kami business
before and during wala ngang naging business dahil wala ngang
microfinance? puhunan. Sa microfinance, because of naging puhunan. Sa
napakaganda ng ano nila, insufficient microfinance,
kasi nagpautang sila sa funds napakaganda ng ano
mga tao upang maging nila, kasi nagpautang
business. sila sa mga tao upang
maging business.
C. Describe your P5 Rowena: Nadadagan - Growth in P5 Rowena: - Improve

standard of living ‘yong income namin dahil earnings Nadadagan ‘yong Standard of
before and during nagkaroon nga kami ng income namin dahil Living
microfinance? small business. - Health, nagkaroon nga kami ng
(level of household housing, and small business.
income, availability P5 Rowena: Maayos education
and quality of naman ( quality of housing needs are P5 Rowena: Maayos
housing, access to and access to health and being met naman ( quality of
health care, education) housing and access to
access to health and education)
education and
access to social
services).
2. What are the A. What factors P5 Rowena: Nag-apply - Capital P5 Rowena: Nag- - Start a new
problems and made you decide to kami sa Microfinance kasi Investment apply kami sa business
challenges apply for nga para magkaroon kami Microfinance kasi nga
experienced by microfinance? ng puhunan sa magiging para magkaroon kami
microfinance business namin. ng puhunan sa
35
New Era University
borrowers? magiging business

namin.
B. What are the P5 Rowena: Wala naman. - No problems P5 Rowena: Wala Improve
problems encountered naman. current
encountered in business
applying for
microfinance?
C. While under P5 Rowena: Yong ano - Weekly P5 Rowena: Yong ano Loan Capital
microfinancing lang, weekly na paghulog payment lang, weekly na
what were the microfinance, pero okay paghulog
challenges that you naman. microfinance, pero
encountered? okay naman.
3. How does A. How does P5 Rowena: Malaki rin - Had another P5 Rowena: Malaki rin Other Assets
microfinance affect microfinance affect naging epekto dahil source of naging epekto dahil
business operations your business nagkaroon kami ng small income nagkaroon kami ng
and standard of operations? business na siomai. small business na
living? Maganda ang naging - Increased siomai. Maganda ang
epekto. Sales naging epekto.
B. How does P5 Rowena: Okay naman. - Up to P5 Rowena: Okay Improve

microfinance affect standard naman. current
your standard of business
living?
C. How do you see P5 Rowena: Malaki ang Investment P5 Rowena: Malaki Loan Capital
microfinance to naitulong ng microfinance ang naitulong ng
alleviate poverty? kasi nga sa katulad natin microfinance kasi nga
na walang capital para sa katulad natin na
magstart ng business, walang capital para
nagpautang sila magstart ng business,
(Microfinance) para sa nagpautang sila
mga taong gustong (Microfinance) para sa
magkaroon ng business. mga taong gustong
magkaroon ng
business.
D. What are the P5 Rowena: Okay naman - Low interest P5 Rowena: Okay Improve
important insights ‘yong microfinance kasi naman ‘yong Standard of
that you would like okay naman yong naging - Effective microfinance kasi okay living
to share about ano (tulong) nila sa process for naman yong naging
microfinance? pagpapautang sa mga tao starting up ano (tulong) nila sa
para nga magkaroon ng pagpapautang sa mga
business sa mababang tao para nga
interest. magkaroon ng
business sa mababang
interest.
Table 13 Final-coding: (Rowena Cruz - 2022)
36
New Era University
Chapter 4
DISCUSSION
Summary of the Findings
In this section the researchers highlight lived experience of microfinance borrowers in
poverty alleviation. The researchers have divided the research question into three
themes: (1) Investment; (2) Improved standard of living; and (3) Improved well-being.
Theme 1: Investment
The participants were microfinance borrowers and already had a small business.
Their capital comes from their savings or income from their families and the reason why
they apply for microfinance is to have a bigger business investment. Participants
mentioned that before entering microfinance, their standard of living was stable but then
she applied for microfinance and made their standard of living insured also during
microfinance, their small business is growing, and they are now making more income
than before. The problem that they have encountered among the participants is that they
have a large number of people joining microfinance within their group. If one of their
members fails to repay its loan, the entire group will be held responsible and by taking
money out of the capital due to low income to pay their loan or weekly payment for
microfinance was the most difficult challenge for them because sales in their business
were not strong.
As Shirley responded that her business operations were affected by microfinance
during the time of lockdown. She also said that calamities are not an excuse in paying
loans weekly in microfinance. As for her standard of living, it is not affected by
microfinance because in her 14 years of business, her husband and her children already
have their regular income before microfinance.
37
New Era University
Theme 2: Improve standard of living
Microfinance's main goal is to increase income among low-income households,
which will raise living standards, promote empowerment, and alleviate poverty. The
standard of living for any person may be affected by an increase or decrease in their
income. Increased household-income by borrowers can access healthcare services,
education, life satisfaction, and social empowerment.
As mentioned by Melanie and Shirley their business was affected by microfinance
as it continued to grow and make use of its capital well. They also said that microfinance
will greatly affect the standard of living of people when they know how to make use of the
money.
Theme 3: Improved well-being
Microfinance can alleviate poverty and improve well-being by assisting low-
income households in stabilizing their income flows and saving for future needs. In good
times, microfinance helps families and small businesses prosper, and in bad times, it can
help them cope and rebuild.
According to Melanie and Evelyn's statement, microfinance has helped them
continue to meet their children's educational needs. Microfinance enables them to
provide for their children, particularly in educational matters; because some of them have
children studying at the same time, microfinance enables them to secure their children's
futures.
Conclusion
Based on the findings presented through interpretation and gathered information,
the researchers found out that:
1. The majority of participants run small businesses, and their businesses are
growing and bringing in more income than they were previously.
2. The biggest challenge for Microfinance borrowers, according to their responses,
38
New Era University
is making their weekly payments because business sales aren't stable.
3. Microfinance has an impact on the participants' businesses since it helps with their
capital. Microfinance had a small effect on their standard of living since it affected
how they lived and because they were unfamiliar with making weekly loan
payments.
Finally, the study discovered that microfinance truly helps low-income households
alleviate poverty assets while also improving their living standards and business
operations, as well as improved well-being such as health and education.
Recommendation
Based on the conclusions drawn above, the following recommendations are offered:
1. The microfinance borrowers should put in more business in order for them to
finance their weekly payments.
2. The microfinance institution must frequently evaluate the financial situation of its
clients in order to stay focused on helping low-income households.
3. Microfinance borrowers must understand how to properly manage their money in
order to generate income to support their standard of living and business
operations.
To ensure that microfinance is an effective poverty-alleviation tool, targeting
procedures must be reviewed to ensure that the intended beneficiaries are correctly
identified. There is also a need to assess clients' economic status on a regular basis to
avoid shifting away from a focus on the poor and low-income households. This cannot
be overstated, given that MFIs may lack the motivation to seek out poor clients. Finally,
given the regressive impact on income, there is a need to assist the poor in improving
project selection so that they not only ensure loan repayment but also generate a healthy
profit.
39
New Era University
REFERENCES
Books
Unpublished Sources (Master’s Thesis/ Dissertation)
Published Sources (Journals)
Internet Sources
Asian Development Bank. (2022). How Microfinance is Helping Poor Households and
Businesses Survive and Thrive: 6 Things to Know. Retrieved from
https://www.adb.org/news/features/how-microfinance-helping-poor-households-and-
businesses-survive-and-thrive-6-things
Accounting Tools (2022). Borrower definition. Retrieved from
https://www.accountingtools.com/articles/borrower
Accounting Tools (2022). Effectiveness definition. Retrieved from
https://www.accountingtools.com/articles/effectiveness
Asian Development Bank. (2022).How Microfinance is Helping Poor Households and

Businesses Survive and Thrive: 6 Things to Know. Retrieved from
https://www.adb.org/news/features/how-microfinance-helping-poor-households-
and-businesses-survive-and-thrive-6-thing
Bangko Sentral ng Pilipinas. Financial Inclusion in the Philippines. Retrieved from
https://www.bsp.gov.ph/Media_And_Research/Financial%20Inclusion%20in%20t
he%20Philippines/FIP_3Qtr2013.pdf
Bent, Bogale Berhanu. 2019. The Impact of Microfinance on Poverty Reduction and
Women Empowerment. In Rais Collective Volume–Economic Science. Beltsville:
Scientia Moralitas Research Institute, USA, pp. 72–86. Retrieved from
https://scholar.google.com/scholar_lookup?title=Microfinance+and+poverty+redu
ction:+New+evidence+from+Pakistan&author=Khan,+Arshad+A.&author=Sufyan
+U.+Khan&author=Shah+Fahad&author=Muhammad+A.+S.+Ali&author=Aftab+
Khan&author=and+Jianchao+Luo&publication_year=2020&journal=International
+Journal+of+Finance+&+Economics&volume=26&pages=4723%E2%80%9333
Creswell, J.W.(2007). Qualitative inquiry & research design: Choosing among five
approaches (2nd ed.), Thousand Oaks, CA: Sage. Retrieved from
https://psycnet.apa.org/record/2006-13099-000
Grimmelikhuijsen, S. and Porumbescu, G., (2017). Reconsidering the expectancy

disconfirmation model. Three experimental replications. Taylor & Francis Online.
Retrieved from
https://www.tandfonline.com/doi/full/10.1080/14719037.2017.1282000?fbclid=Iw
AR3MlqQEnXoUc6mk2ul59P7Os7djcN7lyhd2pKmbbAPzlUIJZEtvKLJSSeI
Julia Kagan, S.Anderson. (2022). Microfinance Definition: Benefits, History, and How It
40
New Era University
Works. Investopedia. Retrieved from
https://www.investopedia.com/terms/m/microfinance.asp
Igi-Global (n.d.). What is Poverty Alleviation?. Retrieved from

https://www.igi-global.com/dictionary/poverty-
alleviation/55830#:~:text=1.,North%20West%20Region%20of%20Cameroon.
Roberts. (2018). The impact of microfinance to borrowers. business, personal and

financial status and the mediating role of service satisfaction: evidence from the
Philippines. Research Gate. Retrieved
fromhttps://www.researchgate.net/publication/350508227_The_impact_of_microfinance
_to_borrowers_business_personal_and_financial_status_and_the_mediating_role_of_s
ervice_satisfaction_evidence_from_the_Philippines
Kagan, J., Potter, C., and Munichiello, K. (2022). Insurance: Definition, How It Works,
and Main Types of Policies. Retrieved from
https://www.investopedia.com/terms/i/insurance.asp
K.Srivastav and Vaidya, CFA, FRM. (2022). What is Revenue Maximization?. Wall
Street Mojo. Retrieved from
https://www.wallstreetmojo.com/revenue-maximization/
Kenton, W., James, M., and Courage, A., (2022 What Is an Acquisition? Definition,
Meaning, Types, and Examples. Investopedia. Retrieved from
https://www.investopedia.com/terms/a/acquisition.asp
Khan et al., (2020) Poverty eradication | Department of Economic and Social Affairs.
retrieved from
https://sdgs.un.org/topics/poverty-eradication
Law Insider (n.d.). Widespread definition. Retrieved from
https://www.lawinsider.com/dictionary/widespread
Liberto, D. and Kelly. R. (2021). Expansion: Definition in Economics, Length, and

Indicators. Retrieved from
https://www.investopedia.com/terms/e/expansion.asp
Law Sider (n.d). Low-income household definition. Retrieved from
https://www.lawinsider.com/dictionary/low-income-household
Marshall, C., & Rossman, G.B. (1999). Designing qualitative research (3rd ed.).
Thousand Oaks: Sage. Retrieved from
https://scholar.google.com.ph/scholar?q=Moustakas,+C.+(1994).+Phenomenological+r
esearch+methods.+Thousand+Oaks,+CA:+Sage.&hl=en&as_sdt=0&as_vis=1&oi=schol
art
41
New Era University
Moustakas, C. (1994). Phenomenological research methods. Thousand Oaks, CA:

Sage. Retrieved from
https://scholar.google.com.ph/scholar?q=Moustakas,+C.+(1994).+Phenomenolo
gical+research+methods.+Thousand+Oaks,+CA:+Sage.&hl=en&as_sdt=0&as_vis=1&o
i=scholart
Manzoor et al (2019) microfinance banks profit off developing world. Retrieved from
https://www.bloomberg.com/graphics/2022-microfinance-banks-profit-off-developing-
world/
Microfinance Barometer (2017) : global trends of the sector. Retrieved from
https://group.bnpparibas/en/news/microfinance-barometer-2017-global-trends-sector
James, M. (2021). Microenterprise Definition, Types, Example. Retrieved from
https://www.investopedia.com/terms/m/microenterprise.asp
Norgaard, B. (2021). What is Transcendental Phenomenology? The Enlightened

Worldview Project. retrieved from
https://www.enlightenedworldview.com/what-is-transcendental-phenomenology/
Prashansa (2019). Microfinance Council of the Philippines — Five highlights from the
annual conference. Impact Insurance. Retrieved from
https://medium.com/impact-insurance/microfinance-council-of-the-philippines-
five-highlights-from-the-annual-conference-3c6139dac492
Philippine Statistics Authority(2021). Highlights of the Preliminary Results of the 2021

Annual Family Income and Expenditure Survey. Retrieved from
https://docs.google.com/document/d/1Eukbqlyw1gI8uaPmpCQhwlwp9VjbnNma
Z6f-Ulp09XU/edit#
Seidman, I. (1998). Interviewing as qualitative research: A guide for researchers in

education and the social sciences. New York, NY: Teachers College Press. Retrieved
from
https://www.scirp.org/(S(351jmbntvnsjt1aadkposzje))/reference/ReferencesPape
rs.aspx?ReferenceID=822181
Study.com (2022). What Is a Paradigm?. Retrieved from

https://study.com/academy/lesson/what-is-paradigm-definition-development-
examples.html
World Bank and WHO (2017). Half the world lacks access to essential health services,
100 million still pushed into extreme poverty because of health expenses. Retrieved
from https://www.who.int/news/item/13-12-2017-world-bank-and-who-half-the-world-
lacks-access-to-essential-health-services-100-million-still-pushed-into-extreme-poverty-
because-of-health-expenses
Zainal et al., (2019). EconPapers: Does bank regulation and supervision impede the
efficiency of microfinance institutions to eradicate poverty? Evidence from ASEAN-5
countries. Retrieved from
https://econpapers.repec.org/article/emesefpps/sef-10-2019-0414.htm
42
New Era University
APPENDICES
Appendix 1 Request Letter to Conduct Interview
November 20, 2022
To whom it may concern,
Warm greetings from College Students of NEU – Main Branch!
The undersigned student-researchers are conducting a research study by entitled “The

Lived Experiences Of Microfinance Borrowers In Poverty Alleviation” as one of the
requirements for Business Research subject. In line with this, we would like to ask for
your permission to allow us to gather data for our research participants who are
microfinance borrowers.
Rest assured that we will ask them to voluntarily participate in our research study, all
information will be kept confidential and there will be no disruption in terms of privacy
within the time of research undertaking. Also, proper consents will be sought by the
researchers before conducting the said activity.
The tentative schedule of our data gathering will be on November 22, 2022, for your
approval.
Very truly yours,
BALMES, JOSEPH BENEDICT C. MANALO, ZANDRA MAXIENE

Leader, Student from 3FM-2 Assistant Leader, Student from 3FM-2
Endorsed by:
DR. IRENE SOLANO

Business Research Professor Research Coordinator
43
New Era University
Appendix 2 Consent Letter to conduct interview
Business Research Title: “The Lived Experiences Of Microfinance Borrowers In
Poverty Alleviation”
Research Investigator:
Research Participants Name:
The interview will take 20-30 minutes. We don’t anticipate that there are any risks
associated with your participation, but you have the right to stop the interview or withdraw
from the research at any time. Thank you for agreeing to be interviewed as part of the
above research project. Ethical procedures for academic research undertaken from New
Era University require that interviewees explicitly agree to being interviewed and how the
information contained in their interview will be used. This consent form is necessary for
us to ensure that you understand the purpose of your involvement and that you agree to
the conditions of your participation. Would you therefore read the accompanying
information sheet and then sign this form to certify that you approve the following:
● the interview will be recorded, and a transcript will be produced

● you will be sent the transcript and given the opportunity to correct any factual
errors
● the transcript of the interview will be analyzed by (name of the researcher) as
research investigator
● access to the interview transcript will be limited to (name of the researcher) and
academic colleagues and researchers with whom he might collaborate as part of
the research process
● any summary interview content, or direct quotations from the interview, which are
made available through academic publication or other academic outlets will be
anonymized so that you cannot be identified, and care will be taken to ensure that
other information in the interview that could identify yourself is not revealed
● the actual recording will be (kept or destroyed state what will happen)
● any variation of the conditions above will only occur with your further explicit
approval
Or a quotation agreement could be incorporated into the interview agreement
Quotation Agreement
I also understand that my words may be quoted directly. With regards to being
quoted, please initial next to any of the statements that you agree with:
44
New Era University
I wish to review the notes, transcripts, or other data collected during the
research pertaining to my participation.
I agree to be quoted directly.
I agree to be quoted directly if my name is not published and a made-up

name (pseudonym) is used.
I agree that the researchers may publish documents that contain

quotations by me.
All or part of the content of your interview may be used;
● In academic papers, policy papers or news articles.

● On our website and in other media that we may produce such as spoken
presentations.
● On other feedback events.
● In an archive of the project as noted above
By signing this form, I agree that;

1. I am voluntarily taking part in this project. I understand that I don’t have to take
part, and I can stop the interview at any time;
2. The transcribed interview or extracts from it may be used as described above;
3. I have read the Information sheet;
4. I don’t expect to receive any benefit or payment for my participation;
5. I can request a copy of the transcript of my interview and may make edits I feel
necessary to ensure the effectiveness of any agreement made about
confidentiality;
6. I have been able to ask any questions I might have, and I understand that I am
free to contact the researcher with any questions I may have in the future.
_____________________________________
Printed Name
_____________________________________ ____________________
Participants Signature Date
_____________________________________ ____________________
Researchers Signature Date
45
New Era University
Appendix 2 Questionnaire
Interview Questionnaire
1.1 Tell me something about your business (location, industry, number of employees,
number of years in the business, source of capital financing).
1.2 What was your business situation before and during microfinance?
1.3 Describe your standard of living before and during microfinance? (level of
household income, availability and quality of housing, access to health care, access
to education and access to social services).
2.1 What factors made you decide to apply for microfinance?

2.2 What are the problems encountered in applying for microfinance?
2.3 While under microfinancing what were the challenges that you encountered?
3.1 How does microfinance affect your:

3.1.1 Business operations?
3.1.2 Standard of living?
3.2 How do you see microfinance to alleviate poverty?
3.3 What are the important insights that you would like to share about microfinance?
Appendix 3 List of Respondents
1. Shirley Regarde
2. Melanie Beljica
3. Flordeliza Velloz
4. Evelyn Mejica
5. Rowena Cruz
46
New Era University
Appendix 4 Curriculum Vitae
CURRICULUM VITAE
Name: Joseph Benedict C. Balmes
Address: Sitio Pandayan, Barangay Inarawan, Antipolo City
Contact Number: 09282066588
Email Address: joseph.balmes@neu.edu.ph
PERSONAL INFORMATION
Age: 20 years old
Status: Single
Birthdate: January 27, 2002
Citizenship: Filipino
Language Spoken: Filipino / English
Religion: Iglesia Ni Cristo
EDUCATIONAL BACKGROUND Year Graduated
Primary
Peace Village Elementary School 2013 - 2014
Secondary
Tongohin National High School 2017 - 2018
ACTS Computer College 2019 - 2020
Tertiary
New Era University 2020 - Present
47
New Era University
CURRICULUM VITAE
Name: John Patrick M. Cruz
Address: Purok 1A Burgos Cabarroguis Quirino
Email Address: john2.cruz@neu.edu.ph
Age: 24
Status: Single
Birthdate: September 12, 1998
Primary
Cabarroguis Christian School 2006 - 2011
Secondary
College of Evangelical Ministry High School department 2011 - 2014
Tertiary
48
New Era University
CURRICULUM VITAE
Name: Carl Justin Consigo
Address: Barangay Gaya-Gaya City of San Jose Del Monte, Bulacan
Email Address: carl.consigo@neu.edu.ph
Age: 21
Status: Single
Birthdate: July 16, 2001
Religion: Roman Catholic
Primary
St. Theresa’s School of Novaliches 2013 - 2014
Secondary
Christian Ecclesiastical School 2017 - 2018
Christian Ecclesiastical School 2019 - 2020
Tertiary
49
New Era University
CURRICULUM VITAE
Name: Zandra Maxiene Manalo
Address: 5323 San Benissa Garden Villas, Kaligayahan,
Novaliches, Quezon City
Email Address: zandra.manalo@neu.edu.ph
Age: 21 years old
Status: Single
Birthdate: Nov. 05, 2001
Religion: Roman Catholic
Primary
Unzad Villasis Pangasinan 2013-2014
Secondary
Saint Anthony Abbot Academy 2017-2018
University of Cordillera 2018-2019
Panpacific University 2019-2020
Tertiary
50
New Era University
CURRICULUM VITAE
Name: Kathrina M. Reyes
Address: Urdaneta, City Pangasinan
Email Address: kathrina.reyes@neu.edu.ph
Age: 21 years old
Status: Single
Birthdate: August 5, 2001
Primary
Santa Rosa Elementary School Central II 2013 - 2014
Secondary
Academia Institucion De San Pedro 2017 - 2018
Panpacific University 2019 - 2020
Tertiary
51
New Era University
CURRICULUM VITAE
Name: John Michael Sayat
Address: San Jose Del Monte, Bulacan, Barangay Narra
Email Address: john.sayat@neu.edu.ph
Age: 20
Status: Single
Birthdate: March 23, 2002
Religion: Born Again
Primary
Francisco Homes Elementary School 2013 - 2014
Secondary
First City Providential College 2017 - 2018
Tertiary
52
New Era University
CURRICULUM VITAE
Name: Tristan Paul Turla
Address: 001 A. San Diego 3rd Malabo Maysan Valenzuela City
Email Address: tristan.turla@neu.edu.ph
Age: 22
Status: Single
Birthdate: September 5, 2000
Primary
Malinta Elementary School 2013 - 2014
Secondary
Malinta National High School 2017 - 2018
Our Lady of Fatima University 2019 - 2020
Tertiary
53
New Era University
CURRICULUM VITAE
Name: Lanie Olmoguez
Address: Centella homes, Rodriguez Rizal
Email Address: lanie.olmoguez@neu.edu.ph
Age: 22
Status: Single
Birthdate: Oct. 7, 1999
Religion: Catholic
Primary
San Rafael Elementary School 2013 - 2014
Secondary
Roosevelt College Rodriguez 2017 - 2018
Infant Jesus Learning Academy 2019 - 2020
Tertiary
54
New Era University
Appendix 5 Certificate of Editing
55
New Era University
Appendix 6 Interview Raw Data
Participant 1 - Shirley Regarde
Interview Questions Raw Data
1.1 Tell me something about your 14 years na akong nagtitinda. Syempre hindi
business (location, industry, maiiwasan na hindi ka magbaborrow ng puhunan.
number of employees, number of Ano to, weekly kang naghuhulog. Hindi lang isa
years in the business, source of ang kinukunan ko. Ano pa? Eto, dati nag ggrocery
capital financing). ako kaso ngayon wala akong stock kasi may
pinuntahan kaming meeting.
1.2 What was your business Mas mahirap yung may hinuhulugan. Pinagawa
situation before and during kasi yung bahay namin kaya meron ka pang ibang
microfinance? hinuhulugan. May mga balance pa. So buti may
sarili kang puhunan.
1.3 Describe your standard of Ang ano nyan, meron kang parang insurance.
living before and during Basta insured ka.
microfinance? (level of household
income, availability and quality of
housing, access to health care,
access to education and access
to social services).
2.1 What factors made you decide Ano kasi sya, grupo. Grupo. Pag tumagal ka na,
to apply for microfinance? kung good payer ka, pwede ka nang maging
single. Tapos aakyat yung loan mo. Tumataas.
2.2 What are the problems Hindi naman ako nahirapan. Yung mga
encountered in applying for requirements lang. Pero pag regular ka nang
microfinance? nagloloan, bayad ka lang ng bayad tapos magfifill
up ka lang ng renewal. Sa una lang mahirap dahil
sa mga requirements.
2.3 While under microfinancing Ayan, dumadami yung mga kasama mo. Tapos
what were the challenges that you merong microfinance na grupo. Merong single.
encountered? Pag matagal ka na, single ka na at wala ka nang
kagrupo. Yung microfinance may apat na part:
Housing Loan, Negosyo Loan, Educational Loan
at Noche Buena Loan.
56
New Era University
3.1 How does microfinance affect

your:
3.1.1 Business operations? Nung nag lockdown medyo mabigat kasi kahit
naglockdown, tuloy parin ang hulog tapos humina
yung kita mo. Nung nag lockdown mabigat kasi
ang microfinance walang bagyo, walang calamity,
tuloy ang hulog.
3.1.2 Standard of living? Ano lang yan, kasi ano, regular nang may sahod
ang anak at asawa ko, wala naman. Bumigat lang
nung lockdown. Kasi dumami yung kalaban,
maraming nagtitinda.
3.2 How do you see microfinance Yung iba kasi, kaya nagiging mabigat dahil
to alleviate poverty? ginagamit sa pang negosyo. Ibibili ng kung ano
ano. Ang microfinance ay para sa pang
kabuhayan, umaangat ang buhay. Hindi gaya ng
pang luho lang, pagkaraan ng ilang linggo, wala
ka nang pang hulog. pag hindi sila nakakahulog
Ano, grupo kami nag aabono.
Pero kapag tapos na, tapos na ang 24 weeks,
yung pondo nya, ibabayad nya sa amin. Ganun
lang. Halos kalahating taon, kaya mabigat. Kaso
may savings naman kami.
Depende sa tagal. Kapag baguhan ka lang, mga
360 sa 6,000 yun. Pag paangat ng paangat,
tumataas din yung hinuhulugan mo, tumataas din
yung savings mo.
3.3 What are the important Mahirap siya iwanan. Para bang yung buhay mo,
insights that you would like to in case na maaksidente ka, insured ka na. Ang
share about microfinance? lending ko, apat, hindi lang isa. Meron kasi kaming
pang miyerkules tsaka pang lunes, bago dumating
yung bayaran mo, meron ka nang natabi. Yung iba
meron kaso sulat lang, kaso yung iba naman kasi,
nang gag*go lang. Kung hindi seryoso ang pag
microfinance nila, ginugugol nila sa kung ano pero
kung sa negosyo talaga, wala, parang wala lang.
Participant 2 - Melanie Beljica
1.1 Tell me something about your Sa kasama, ako lang. Ang business ay food
business (location, industry, handling. Pang meryenda. Burger, fries, ganon.
57
New Era University
number of employees, number of 5 Years mahigit.

years in the business, source of
capital financing).
1.2 What was your business Yung una talaga is ano. Maliit lang kasi siya eh
situation before and during yung capital ko dito. Pero yung sa ipon ba. Ipon
microfinance? muna. Syempre hindi naman maaalis sa buhay
natin yung nagigipit. Medyo nag lalaylo siya. Tapos
minsan medyo mahina yung kita, parang gusto mo
na “ayy umutang kaya ako” para may puhunan.
Ganon.
Nung wala pa, parang steady lang kasi isa palang

yung napoproduce ko na product. Tapos nung
parang napapalago lago ko na sya, nadagdagan
na siya ng equipments. Kasi syempre, isipin mo,
meron kasi akong nakita sa internet na yung
capital mo dapat iano mo siya ng panibago, hindi
yung iwawaldas mo siya. Parang dun ko siya
natutunan. Para lumago siya.
1.3 Describe your standard of Dati ano, syempre hindi mo mabibili yung gusto
living before and during mo. Material man yun or hindi. Tapos ngayon
microfinance? (level of household medyo nakakaano na. Halimbawa yung cellphone,
income, availability and quality of yung mga gadget gadget muna na kailangan as in
housing, access to health care, sa pang araw araw diba. Yung iba nga
access to education and access nagtatanong, “ate nagdedeliver ka ba?” sabi ko
to social services). “ayy hindi pwede, wala akong manpower”, kasi
wala akong katulong e. Syempre kailangan mo ng
ganun diba. Ngayon, parang nakakaluwag luwag
ba, kumpara noon.
2.1 What factors made you Pang puhunan din. Tapos yung time na din kasi na
decide to apply for microfinance? nag aral na yung anak ko sa private. Ayun, dun na
ako nag try mag ano. Para kasi sa pag aaral ng
anak ko, importante.
2.2 What are the problems Wala, mga slight slight lang. Wala naman
encountered in applying for masyadong problema. Siguro yung mga sa papel
microfinance? papel lang. Requirements.
2.3 While under microfinancing Yung pag mahina hina yung benta mo, tapos
what were the challenges that you maghuhulog ka na. Dun talaga.
encountered?
58
New Era University

your:
3.1.1 Business operations? Lumago. Dati kasi fries at ganito lang, tapos nung
lumago, nag siomai na ko. Syempre pagugulungin
ko ulit siya. Tapos nag isip ako ng pandagdag ba,
na product kaya ayun.
3.1.2 Standard of living? Nakakatulong naman siya talaga, pag alam mo

siya ihandle at nasa tamang paraan mo siya
gagamitin.
3.2 How do you see microfinance Nakakatulong siya kung gagamitin siya sa tamang
to alleviate poverty? paraan. Yun talaga. Yun lang talaga masasabi ko.
Kasi kung gagamitin mo siya para lang pambili ng
luho mo, hindi talaga siya makakatulong. Pero pag
ginamit mo siya sa tamang paraan at papaikutin
mo, swak talaga yun.
3.3 What are the important Gamitin lang talaga sa tama. Number one talaga
insights that you would like to yun kasi kapag ginamit mo lang yun para sa luho
share about microfinance? hindi talaga mag iimprove yung business mo. Kasi
halimbawa, ginamit mo siya para sa luho mo,
tapos wala namang bumabalik, malulubog ka
talaga.
Participant 3 - Flordeliza Velloz
1.1 Tell me something about your Ano siya eh looban kaya parang hindi masyadong
business (location, industry, ano (kita). Sari-sari store.
number of employees, number of
years in the business, source of
capital financing).
1.2 What was your business Nakakakuha naman kami ng konting budget dun
situation before and during sa, sa store.
microfinance? Yung makabili lang kami ng pagkain budget.
Nagbibigay ‘yong mga anak ko.
1.3 Describe your standard of Parang ganon parin, kasi hindi naman malakas eh,
living before and during looban kasi. 3 years tapos yung store ko wala pang
microfinance? (level of household 1 year.
59
New Era University
access to education and access

2.1 What factors made you Pang-puhunan.

decide to apply for microfinance?
2.2 What are the problems Wala naman.

encountered in applying for Wala, kasi rehistrado ako.
microfinance?
2.3 While under microfinancing Yung paglalabas ko ng puhunan kapag wala nang
what were the challenges that you maibayad sa sobrang dalang kumita.
encountered?

your:
3.1.1 Business operations? Ano lang yung kapag may benta ipamili ko ulit. kasi
kapag may utang minsan wala na, minsan tagal
bayaran syempre mag lalabas ka ng puhunan. Yun
talaga ang problema dun sa tindahan (hindi gaano
kumikita)
3.1.2 Standard of living? Sa ano, okay lang kasi lahat ng anak ko may
trabaho naman. wala namang problema.
3.2 How do you see microfinance Yun halimbawa wala ng puhunan mag loloan ka
to alleviate poverty? ilalagay mo ulit dun sa tindahan.
3.3 What are the important

insights that you would like to Kailangan talaga mayroon kang pang suportang
share about microfinance? panghulog dun sa lending mo hindi mo rin pwedeng
asahan lang yung tindahan, kailangan may suporta
galing dun sa mga anak.
Participant 4 - Evelyn Mejica
1.1 Tell me something about your Dry goods (food industry) yung mga sibuyas, balot,
business (location, industry, penoy mga almusal. Dito sa Sentelya. Kami lang,
number of employees, number of sariling negosyo. Four years na.
years in the business, source of Sa ano, sa kita ng asawa ko taposs pinapaikot ko
capital financing). para kumita.
60
New Era University
Ano lang maliit lang naman na ano, maliit lang ang

puhunan ko tapos nung may nag-alok samin ng
microfinance kumuha ako para madagdagan ang
aking pambili ng paninda ko, puhunan.
1.2 What was your business
situation before and during Okay naman, okay naman ‘yong pagnenegosyo ko
microfinance? hanggang ngayon.
Yung income naman, maganda naman kasi
kumikita naman yung paninda ko kahit papano
lumalago yung, hiniram kong pera sa Microfinance.
1.3 Describe your standard of Okay naman, naayos ko naman yung sa pag-aaral
living before and during ng mga anak ko.
income, availability and quality of Parehas lang, okay naman nadagdagan lang ‘yong
housing, access to health care, pagnenegosyo ko noong nangutang ako sa
access to education and access microfinance.
2.1 What factors made you Para madagdagan ang aking puhunan, kasi may
decide to apply for microfinance? dinagdag din akong paninda.
2.2 What are the problems May mga requirements na pinapapasa samin, hindi
encountered in applying for sa tulad sa bumbay, dito marami mga requirements
microfinance? para makumpleto kaya, para mareleasan kami.
Kahit papaano minsan magigipit ka, pero agad

2.3 While under microfinancing naman naming nasusurvive nahuhulugan naman
what were the challenges that you namin, ang pagbabayad sa microfinance.
encountered?
61
New Era University

your:
3.1.1 Business operations? Hindi naman nakaapekto, kasi kahit papaano
nakakatulong naman sa puhunan.
3.1.2 Standard of living? Okay naman, nag bago lang ng kaunti, kasi
syempre nung wala kang utang sa Microfinance
wala kang iniisip na pagbabayad, noong nangutang
ka syempre iniisip mo na, every week na may
babayaran ka.
3.2 How do you see microfinance Kahit papaano nakakatulong sa amin, kasi may
to alleviate poverty? napupuntahan kami kapag kami ay nagigipit, may
nauutangan kami.
3.3 What are the important
insights that you would like to Kahit papaano maganda kasi ang microfinance,
share about microfinance? ang microfinance kasi hindi lang sa pangungutang,
may savings kami at unang-una may insurance
kami, hindi katulad ng mangungutang kalang sa
mga tao, dito safety na ang buhay namin kahit
papano, safe yung buhay namin kung mawala kami
may insurance kami yun ang malaki sa
microfinance. Malaking tulong.
Participant 5 - Rowena Cruz
1.1 Tell me something about your Ako po si Rowena Cruz, isang mother. Ang location
business (location, industry, is dito lang sa street namin. Siomai (food industry)
number of employees, number of 1 year mahigit. (number of years in the business)
years in the business, source of Sa Microfinance. (Source of capital Financing)
capital financing).
Before kasi nahihirapan kami dahil wala ngang
1.2 What was your business naging puhunan. Sa microfinance, napakaganda
situation before and during ng ano nila, kasi nagpautang sila sa mga tao upang
microfinance? maging business.
Nadadagan ‘yong income namin dahil nagkaroon

1.3 Describe your standard of nga kami ng small business.
living before and during
62
New Era University
access to education and access to

social services).
2.1 What factors made you decide Nag-apply kami sa Microfinance kasi nga para
to apply for microfinance? magkaroon kami ng puhunan sa magiging
business namin.
2.2 What are the problems Wala naman.

encountered in applying for
microfinance?
2.3 While under microfinancing Yong ano lang, weekly na paghulog microfinance,
what were the challenges that you pero okay naman.
encountered?

your:
3.1.1 Business operations? Malaki rin naging epekto dahil nagkaroon kami ng
small business na siomai. Maganda ang naging
epekto.
3.1.2 Standard of living? Okay naman.
3.2 How do you see microfinance Malaki ang naitulong ng microfinance kasi nga sa
to alleviate poverty? katulad natin na walang capital para magstart ng
business, nagpautang sila (Microfinance) para sa
mga taong gustong magkaroon ng business.
3.3 What are the important Okay naman ‘yong microfinance kasi okay naman
insights that you would like to yong naging ano (tulong) nila sa pagpapautang sa
share about microfinance? mga tao para nga magkaroon ng business sa
mababang interest.
63

THE LIVED EXPERIENCES OF MICROFINANCE BORROWERS IN POVERTY ALLEVIATION Final Paper

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

THE LIVED EXPERIENCES OF MICROFINANCE BORROWERS IN POVERTY ALLEVIATION Final Paper

Uploaded by

Copyright:

Available Formats

New Era University

COLLEGE OF BUSINESS ADMINISTRATION

THE LIVED EXPERIENCES OF MICROFINANCE

A Research Paper Presented to the

In Partial Fulfillment of the Requirements for the Degree

Balmes, Joseph Benedict, C.

Philippine Copyright 2022

This research entitled THE LIVED EXPERIENCES OF MICROFINANCE

Approved by the Panel on Oral Examination on 08 December 2022 with the

WINLIND L. DELA PAZ, DBA VIVIAN I. BUHAIN, Ph.D

Accepted in partial fulfillment of the requirements for the degree Bachelor of

EMILIA MACINAS MANANGHAYA, DBA

EXPERIENCES OF MICROFINANCE BORROWERS IN POVERTY ALLEVIATION for

the degree of Bachelor of Science in Business Administration Major in Financial

referencing and acknowledgment were made.

BALMES, JOSEPH BENEDICT C.

appreciation for allowing us to conduct this research.

Irene P. Solano in allowing us to conduct this study.

fulfill our research study.

their help amid problems while doing this work.

and guidance in carrying out this work.

Title : The Lived Experiences of Microfinance Borrowers

Researcher : Balmes, Joseph Benedict, C.

Degree : Bachelor of Science in Business Administration

Institution : New Era University

Adviser : Irene P. Solano, Ed D

institutions in the Philippines to alleviate poverty. A qualitative phenomenological

and/or business operations. Semi Structured interviews, observations, and document

their microfinance. To determine invariant codes, reduce constituents to categories, and

recognized as a method of helping people alleviate poverty. The majority of the

Keywords - Qualitative Phenomenological approach, Poverty alleviation.

CERTIFICATION AND APPROVAL SHEET………………………………... iii

ABSTRACT ……………………………………………………………………. vii

LIST OF TABLES …………………………………………………………… xi

LIST OF FIGURES …………………………………………………………. xii

Background of the Study ……………………………………..…..… 1

Research Method ……………….…………………………….......... 10

Summary of the Findings .………….…………………………......... 37

Table Caption Page

1 Interview Protocol ……………………………………………..5

2 Evaluative Criteria ……………………………………………..17

3 Strategies for Each Criteria ……………………………..14

4 Results: Themes, Category, and Codes ……………………..15

5 Pre-coding: (Shirley Regarde - 2022) ………………..……18

6 Pre-coding: (Melanie Beljica - 2022) ………………..……20

7 Pre-coding: (Flordeliza Velloz - 2022) ………………..……22

8 Pre-coding: (Evelyn Mejica - 2022) ………………..……24

9 Pre-coding: (Rowena Cruz - 2022) ………………..……25

10 Final coding: (Shirley Regarde - 2022) …………………..…27

11 Final coding: (Melanie Beljica - 2022) …………………29

12 Final-coding: (Flordeliza Velloz - 2022) ………………..……31

13 Final-coding: (Evelyn Mejica - 2022) ………………..……33

14 Final-coding: (Rowena Cruz - 2022) ………………..……35

Figure Caption Page

1 A theory of change for microfinance …….…………….. 4

Poverty is a pandemic, and policymakers and researchers have proposed

provide the necessary resources to accelerate economic activity such as smallholder

people, in addition to helping to reduce poverty.

businesses. According to the Asian Development Bank(2022) these obstacles can be

overcome through microfinance. It helps low-income families balance income fluctuations

Poverty, according to the World Bank (2017), is defined as an obvious lack of

Based on the Philippine Statistics Authority(2021) Family Income and Expenditure

alleviation is a set of economic and humanitarian actions taken to eliminate poverty in a