Microfinance Institutions (MFIs) Intervention in Poverty Alleviation of Households in Lopez, Quezon Province, Philippines

Abstract

This paper investigates Microfinance Institutions (MFIs) Intervention in poverty alleviation of households in the locality of Lopez, Quezon province, Philippines.\xa0 It focuses on five specific objectives to: Determine the personal profile of MFIs household members, their membership profile, examine the goal congruence between MFIs and households, investigate the circumstances during MFIs intervention and, finally find out threats in availing loans from MFIs. This paper adopts quantitative type of research primarily the\xa0 descriptive questions survey where 117 were considered as the representative sample of MFIs in the municipality.\xa0 Likewise, purposive sampling was used in the determination of samples and\xa0 survey form for data collection.\xa0 This study utilized the SPSS to generate the frequency distribution and weighted mean.\xa0 It was revealed in the analysis that microfinance interventions that offer both savings and loans contributed to a higher standard of living of households.\xa0 More so, the results show that microfinance institutions provide supplemental income for families which may adhere to basic family needs, health, education, and lessen debts to specific persons. Therefore, It was found out that both microfinance savings and microfinance credit appreciably and undoubtedly changed the conditions of every household after availing the MFIs services.\xa0 The study recommends that MFIs should continuously pay closer attention on their interventions that will provide assistance that are favorable to the welfare of every member and the society as well.