Charlito

Loan description:

Charlito Jusayan is 50 years and single. He lives in the neighbourhood of Canhabagat, which in the town of Medillin, Cebu province. He dedicates his time helping his community by offering them affordable merchandise from his small sari-sari (convenience) store. Charlito's business is already in its twenty-fifth year and it continues to offer useful products including canned goods, cleaning items, bread and snacks. Some of his close relatives help him operate the store whenever he needs to go into town to re-stock. He recently received a microloan from the microfinance organisation, First Consolidated Cooperative where he has been a member for one and a half years already. He has already successfully repaid a number of previous loans. This time he will use his loan to buy more supplies for his store but in bulk as well as make a few improvements to his store. Charlito dreams that his business will be stable enough to support him in his old age as well as support his relatives with their needs. He also wants to continue giving his community all their daily necessities at the lowest cost possible. Charlito will repay this loan over a period of four months.