CARD SME Bank’s Client Wins Regional Award At 18th Citi Microentrepreneurship Awards
Renalyn Bordial, CARD SME Bank’s client, was named the Regional Winner for Luzon during the 18th Citi Microentrepreneurship Awards (CMA) on May 11, 2021.
CMA recognizes outstanding microentreprenuers that contributes to the betterment of their community and the economy of the country through their businesses and enterprises. For this year, CMA aims to recognize microentrepreneurs who adapted to the changes brought about by the COVID-19 pandemic.
Nominees from microfinance institutions are submitted and then narrowed down to five awardees. Three regional awardees are selected from Luzon, Visayas, and Mindanao. The other two are selected from the winners of “The Youth Entrepreneurship” award and the “COVID-19 Response Champion”. “The Youth Entrepreneurship” award is given to young entrepreneurs, ranging from 15 to 30 years old. The “COVID-19 Response Champion” is given to microentrepreneurs who has supported, innovated, or led a COVID-19 response initiative.
Ms. Renalyn Bordial was recognized as a Regional Winner as her business, Cashew Nuts Manufacturing, generates employment in her community. She has also shown skills in business development, another criterion for judging.
Ms. Brondial’s Business
Ms. Brondial and her Cashew Nuts Manufacturing started in 2012. Despite the changes in the “new normal”, her business continues to operate. Her business’ product distribution was severely affected by the strict quarantine protocols, limiting the clients she reaches. Despite the lockdown, Ms. Brondial found ways to expand her business.
Her daughter, a fresh graduate and was unable to apply for a job, experimented on baking cookies from cashew nuts. Seeing its potential, the cashew nut cookies were included in the line of products. The addition of the cashew nut cookies to their current offerings propelled their business forward amidst the pandemic.
Plans of expansion for the business are already in the works as she eyes to expand her business in other locations, such as Pampanga and Makati. She is also helping her local community as she purchases the raw materials from their local cashew growers in Bataan.
Ms. Cynthia Baldeo, CARD SME Bank’s President and CEO, shares her thoughts on their client’s nomination. “The nomination of Ms. Bordial is a reminder for us that we are on the right track of encouraging economic growth. To be recognized and awarded by the CMA makes us proud that we can support our clients in their growth and development. Success stories like Ms. Bordial’s will lead to our main goal of ending poverty in the country together with the whole CARD MRI.”
CARD SME Bank is a member institution of CARD MRI that aims to support Micro, Small, and Medium Enterprises (MSMEs), such as Ms. Bordial’s business, improve through financial and community development programs and services.
The National Awardee of the 18th Citi Microentrepreneurship Awards will be announced on June 2021.