Filipina CEO Carmina Bayombong of InvestEd was recognized as the South Asia and Oceania laureate in the 2019 Cartier Women’s Initiative awards held in California.
Bayombong was one of the 7 laureates named by the Cartier Women’s Initiative Awards given on May 3 in ceremonies held at San Francisco’s Fort Mason Center for Arts & Culture.
The InvestED co-founder was recognized for her student loans business that provides underprivileged students chances to study and finish their degree through an investment platform using a proprietary credit rating algorithm.
The Makati CIty-based InvestED student loan service prioritizes poor and low-income students with no credit scoring and therefore shut out of traditional bank loans. Investors are given the opportunity to support these deserving students who wish to finish their degree.
Cartier Women’s Initiative Award comes with a cash prize to help empower aspiring and influential women entrepreneurs around the world like Bayombong to resolve current societal challenges.
In her presentation before the awards were announced, Bayombong spoke about going against the advice of financial experts who tried to dissuade her from giving loans to students and women who were considered non-payers, saying she went ahead with the strong belief in God and the correctness of their mission. Bayombong reports InvestED has a 100% loan repayment rate from students the majority of which are women.
After receiving the award the Filipina CEO said the prize money will help thousands of students in the Philippines who want to fulfill their dreams of being college graduates.
InvestED describes Carmina Bayombong as a believer of education as the key to development. “I want to see a world where every young person has the opportunity to fulfill their dreams and then help others do the same. “
Filipina CEOs like InvestED’s Carmina Bayombong, and Sherill Quintana of Oryspa who won the Asia Pacific Woman Entrepreneur Award, have been receiving recognition around the world not only because of their businesses but also because of the positive social impact of their companies.
With reports from Marclee Agustin
Send your congratulations in the comments below to Cartier Women’s Initiative Laureate Carmina Bayombong, Filipina CEO trailblazing for women entrepreneurs and social enterprises!
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