How can I apply for a loan?
You may apply for a loan by taking the following steps:
1. fill out the loan application data sheet and email it to:
YouthWorks at info@youthmicrofinance.com
Subject: LOAN APPLICATION
2. fill out the loan application data sheet online
3. contact YouthWorks’ community officers through info@youthmicrofinance.com
How do I pay for a loan?
Loans are paid weekly or during the designated dates indicated on your loan approval letter.
You may pay your loans through:
1. the nearest Metrobank Branch. The account information is indicated in your loan approval letter.
2. to the Community Officers
How will I know if my loan was approved/disapproved?
Loans approval/disapproval letters are sent to your email address or provided by the community officers.
What should i do if my loan is disapproved?
You may continue working on your business plan and even request for a mentor to help you finalize it.
Where can I receive my loan?
Your loans will be disbursed to the nearest financial institution or through the Community Officers who will inform you of the loan amount
When should I receive my loan approval?
You will receive your loan approval within 3-6 weeks from the time YouthWorks receives your application.
What are the fees?
Description Amount
-Processing Fee 1% of the loan amount or P 50 whichever is higher
-Insurance Fee 1% of the loan amount or P 50 whichever is higher
-Late Fee 2% of the loan payment or PhP 100 every payment period whichever is higher
-Virtual marketplace Fee 3% - 6% of the total amount in addition to the Pay Pal Fee
How can I support YouthWorks?
There are many ways you can support YouthWorks:
1. You may purchase the products or avail of the services of our borrowers.
2. You may donate directly to YouthWorks. Any donation will be provided as credit to its borrowers.
*If you wish to support a particular business, please send an email to:
donations@youthmicrofinance.com
Subject: DONATION - [Name of Group Contact Person/Business/Product]
and attach a with the copy of your donation receipt or provide the transaction number.
Can I support a specific youth enterprise?
Yes. You may wish to support a specific youth enterprise by buying their products. You may also wish to donate start-up or scale-up capital. However, any donation/grant provided will be given to the youth as a loan so that the money you donate can be used to reach more youth.
Our objective is to provide microfinance training to local youth in urban Manila initially and then expand out our reach from there.
YouthWorks was officially launched at a ceremony in Manila in December 2005. Our sponsoring partners in our social business venture are OrphanIT, and SolvePoverty.com,
Microfinance is the term for the practice of giving financial services, such as microcredit to poor people in our case Youth. By providing microcredit loans to youth we help them accumulate capital to use in their small business ventures. This expands their employment choices and reduces the risks they face. Most microfinance loans or transactions usually involve small amounts of money, ie the loans are frequently less than US$100.
YouthWorks Inc set to become the key provider of microcredit loans to youth in The Philippines
YouthWorks Inc.'s ultimate goal is to be the premier mobile microfinance
institution providing credit to underprivileged and grassroots youth and women entrepreneurs using ICT for development as a sustainable and practical
solution to poverty and its corresponding social ills at the community-level in the Philippines......
We offer a range of microfinance and business training services to youth in the urban communities of Manila including the following: