Mercy

Loan description:

Mercy Daniot is 34 years old and married with children. Her children are aged 7 and 3 and her eldest child attends the local elementary school. They live in Talangnan which is a neighbourhood in the town of Madridejos, Cebu province. She is married to Laurencio, who is 37 years old and a businessman. Mercy is currently engaged in the process of buying latge volumes of small fish, salting and drying them. The end product is locally known as “danggit” or dried fish. Danggit is very popular in the province because of its delicious taste. People are fond of eating it with rice as a morning meal. By producing dried fish, Mercy is helping her husband in providing the daily needs of their family. The fish Mercy salts and dries is supplied to different sellers and retailers in the province. This has been her full-time business for almost 20 years. Mercy has sought the assistance of the microfinance organisation, First Consolidated Cooperative, to help her buy more dried fish so she can sell to more seller/retailers. She became a member of the MFI 12 months ago and has also opened a savings deposit account with them to secure her earnings. She is looking forward to generating more income for her business so she can afford her children's futhering studies and to continue with her growing business. She has promised to repay the microloan over four months.