The Microfinance Program of the Ramon Aboitiz Foundation Inc. (RAFI Micro-finance)  is using a new system that will shorten the processing of loan applications.

The Credit Scorecard System is an automated and simplified process that facilitates fast release of loans to RMF clients. Loan applications are processed in three days or less.

Through a scoring system, a standard critical evaluation criteria in approving a loan is established. The system also uses a score indicator for risk instead of using the manual processing of the data from the Client Investigation and Background Investigation (CIBI) form, Progress-Out-of-Poverty Index (PPI) form, and cash flow of the clients.

RMF’s service provider CRIF will create and develop the system’s features. It is currently assessing the data in terms of structure and quality.

The project will be test-run as soon as the system is completely developed together with a platform.

Credit scoring is important and useful since it can provide an accurate information on risk and other credit factors. It will also give an efficient approval of a loan with objective decisions based on the statistical data analyzed by the credit scoring system.

With a better and improved processing system, RMF will be able to take the microfinance processing to the next level and fulfill its goal of achieving fast and efficient transaction in terms of loan evaluation.

The Microfinance Program of the Ramon Aboitiz Foundation Inc. (RAFI Micro-finance) provides financial and non-financial services to micro-entrepreneurs with a mission of elevating lives of the vulnerable and disadvantaged communities through stable and rewarding livelihood.