YouthWorks Inc. began with three underprivileged youth needing start-up capital for their enterprise. Its founder sought family and friends who understood the potential of these three young individuals and their business plans and the social relevance of providing them with economic empowerment ad its effect on their human development.
Having raised enough funds to fully support the ventures of the three young people, YouthWorks’ founder brought the idea of establishing a legal entity that will continue to provide capital to aspiring underprivileged youth who are willing and able to work towards fulfilling their full human potential starting with a very basic need - the need for economic stability.
With the continued timely repayments of the first three borrowers, its founder presented the idea of YouthWorks to her network of family, friends, colleagues and acquaintances which led to a collaboration among individuals who saw the potential of microfinance targeted towards the most idealistic, most cunning and most creative sector of society - the youth.
At a time when microfinance repayment in the Philippines is at 90% and despite Audrey’s efforts to influence policies affecting the youth to include the availability of microfinance for youth, these policies, at best, opened the doors of government-supported microfinance institutions.
The limited venture capital available in the Philippines inspired its founder to seek grants from outside, keeping in mind that the enterprise’s sustainability cannot be fully achieved within the first 3 years of operation without resources to shoulder its administrative costs.
It was initially conceptualized as a cooperative. But meager resources as well as differing views led its founder to limit the number of people working on YouthWorks to those who aligned themselves with the vision and mission of the organization. Thus, YouthWorks registered itself as a non-profit organization in November 2006.
YouthWorks believes that true commitment to supporting the development of any individual means empowering them. Thus, while YouthWorks would gladly accept donations and grants, any donation or grants are given to borrowers as loans to ensure it will reach more underprivileged youth
We are a youth-led, ICT enabled, social business venture.
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.
YouthWorks envisions a society where economically independent youth entrepreneurs become catalysts so positive social change.
Our objective is to provide microfinance training to local youth in urban Manila initially and then expand out our reach from there.
Audrey E. Codera, Chairman and Founder - A consultant on youth employment and entrepreneurship, Audrey served as Executive Director and then Chairman of the Philippine Youth Employment Network (PYEN) where she advocated and influenced the inclusion of youth employment in Philippine policy and the Asia-Pacific Region. She helped set-up and train grassroots youth on enterprise development with the use of information and communication technology as tools. She served as the Youth Employment Summit - Philippine Country Coordinator. She is a graduate of Political Economy at the University of Asia and the Pacific, a visiting scholar at Columbia University and is currently taking up Law at Thomas M. Cooley Law School.
Carolina Espinosa, President - For more than 20 years, Carolina has worked in the packaging industry as Purchasing Manager. She has also invested on microfinance for more than 5 years and has ventured into small businesses. She brings to YouthWorks her experience in the administration of microfinance. Carolina is studied Commerce from the Polytechnic University of the Philippines.
Ma. Victoria Esguerra, Finance Officer - An Accountant at one of the biggest shipping companies in the Philippines. She has served as finance officer at a microfinance institution for more than 5 years. previous to YouthWorks, she has served as an accountant at international air and shipping companies.
Haydee Detera, Administrative Manager - Haydee served as an administrative officer at an International shipping company previous to joining YouthWorks.
Eunicelle Codera, IT Manager - A graduate of Business Administration major in Computer Application at the De La Salle University, Eunicelle served as marketing and account officer at a national glass manufacturing company before joining a global company providing off-shore technical support. She managed and enabled the growth of one division before joining YouthWorks.
Kay Ann Detera, Partnerships and Marketing Officer - Kay Ann is a Multimedia Arts student at the Asia-Pacific College.
Simon Healy, Managing Director of OutsourcingTo.uS
Curtis DeBerg, Founder of Students for the Advancement of Global Entrepreneurship.
Atty. Claro Garcia, former Governor of Surigao del Norte and President of Allegria Bank.
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......