Villa

Loan description:

Villa Valencia is 43 years old and the mother of a 20 year old son who currently attends college. She also supports the studies of her 2 nephews who are aged 10 and 7 respectively. She is married to Adam, who is 45 years old and works as a businessman. For 15 years, Villa has been busy operating her progressing business which is a restaurant located in the town centre of their neighbourhood at Poblacion in the town of Pinamungajan, Cebu province. She named the restaurant after her name - it is now known as “Villa’s Kitchenette”. She offers a wide variety of dishes everyday, including meals for breakfast, lunch and dinner. She does not forget to incorporate a good balance of meat and vegetables in her daily dishes. With the assistance of her 2 relatives who work as full-time staff, she is able to cater for the needs of the increased number of customers going to the restaurant to taste the delicious food on offer. The business is comprised of several chairs and tables along with a refrigerator where drinks are stored. Villa is primarily the one who asks for people’s individual orders while her staff do the serving and cleaning. The microfinance organisation, Lamac Multi-Purpose Cooperative has continued to support her business venture for the past 11 years of her membership through the loans she acquired. She is now requesting a larger loan so that she has additional capital with which to expand her stock of ingredients for her everyday offerings. She also wants to purchase new equipment and utensils so that she can cook and serve more effectively. The income she will gather will be used for the studies of her son and nephews until they finish their college education. She plans to convert her business into a large restaurant in the near future. She intends to repay the loan over a short period of three months.