20 years after its beginning, SEDP has established a significant position in the field of microfinance. It has steadily grown over the last 20 years with its range of financial, social, training and spiritual formation services.
SEDP is an acronym of its original program name, Socio-Economic Development Program, when it was one of the programs of the Social Action Center of the Diocese of Legazpi. Through positive implementation and a welcoming response from the community the program expanded and grew to the point where it was possible to create a separate organization.
The official separation in December 31, 2003 signaled the further development and expansion of SEDP, which became the leading church-based microfinance institution (MFI) in the Bicol Region (Region V of the Philippines). Guided by its vision of empowering the needy, SEDP has now reached 40,000 members for its 24 branches in its growing geographical areas of coverage.

From its mother province, Albay, SEDP has expanded out and now reaches other provinces such as Camarines Sur, Masbate Catanduanes, and Sorsogon as well into nearby Visayas Island in Catarman, Northern Catarman. It also hopes to expand farther into Camarines Norte, the remaining province in Bicol that is not yet opened.
SEDP has become known for its range of financial products and also for the provision of an array of non-financial services such as enterprise development, business development, advocacy and educational programs, social services, and spiritual and value formation services. It is worthy to mention the Scholarship Program where graduates have found good jobs either abroad or at the local and national level. Others have opted to establish a business of their own with the education and skills they got from Don Bosco Agro Mechanical School, Ateneo de Naga University, Bicol University and other partner institutions.

SEDP has developed a strong organizational base. Nearly 300 staff are dedicated to delivering reliable and needed services, and systems have been put in place to ensure that the organization is not only self-sufficient but also able to generate a surplus that can be used to further the aims of t he Diocese.
Providing direction and guidance is an experienced and well-qualified Board of Trustees supported by an active Management Committee which oversees the operations of SEDP through its main office and branches. SEDP operates in a very competitive environment with other micro-finance institutions also operating in the Bicol region. It is of great credit to the Church that SEDP, as its development institution, has been able to continuously operate and expand its services over 20 years, with the prospect of further expansion.