The Social Action Center – Socio Economic Development Program (SAC – SEDP) started with two projects, the Targeted Women and their Families for Socio-Economic Development (TAWFSED) which was supported by the Catholic Relief Services (CRS) and the Vendors Development for Micro-Lending Project (VDMP) which was supported by MISERIOR.

The TAWFSED was implemented in October 1994 in the towns of Libon, Camalig and Bacacay while VDMP started in August 1995 in the towns of Ligao and Tabaco.

Adopting the “Grameen Banking” approach, (a village-centered banking operation where the poor borrowers avail of a cheap credit without going through the processes required by formal lending institutions such as collateral and guarantor requirements) the two programs were merged in January 1999 using the name Socio-Economic Development Program (SEDP).

The Socio-Economic Development Program (SEDP) spinned off as a separate entity under the name SIMBAG SA PAG-ASENSO (SEDP) Inc, meaning Response to Progress. Operational separation was in December 31, 2003.