The SEDP-Simbag sa Pag-Asenso, Inc. started out as a Socio-Economic Development Program of the Social Action Center (SAC) of the Diocese of Legazpi.
Under the auspices of the Catholic Relief Services (CRS), the Targeted Women and their Families for Socio-Economic Development (TAWFSED) was implemented on October 1994 in the towns of Libon, Camalig and Bacacay. On the other hand, the Vendors Development for Micro-Lending Project (VDMP) under the support of MISERIOR was undertaken in the towns of Tabaco and Ligao on August 1995. Adopting the Grameen Banking Model, these two programs were merged as Socio-Economic Development Program or SEDP and became the seeds for the establishment of the SEDP-Simbag sa Pag-Asenso, Inc. on Dec 31, 2003.
The institution “commits to deliver financial and non-financial services with training and formation to micro-entrepreneurial families towards improved socio-economic condition, political empowerment, and enhanced spiritual well-being” and offers loans, microinsurance, social services, spiritual development and formation, and enterprise and business development services to members in five provinces of the Bicol Region and Samar Province in the Visayas. It also grants scholarships to deserving students of good performing members.
Fr. Jose Victor E. Lobrigo, President and CEO
The Chancery, Cathedral Compound
Albay District, Legazpi City