Jerry

Loan description:

Jerry Bargamento is 37 years old and married with five young children. His children are ages 14, 11, 9, 5 and 3. Four of his children currently attend the local school in the rural area of Caipilan, in Carcar, Cebu province. His wife, Virginia, is 36 years old and a full-time housewife. Jerry has engaged in various kinds of business ventures in order to provide the daily necessities of his family. Eleven years ago he started to build-up a small market stall that offers different kind of vegetables like onions, garlic and potatoes. He found it was easy to sell these products since they are basic necessities for every household. He sells these products together with other consumable items to increase sales and provide convenient shopping for his customers. Jerry packs some vegetables in small plastic bags so that the buyers can buy it at a retail price while others are sold on a per kilo basis. Jerry is also engaged in a small livestock business where he raises a few pigs. He has built a space for his pigs where they can stay comfortably. The microfinance organisation, Lamac Multi-Purpose Cooperative, supports both of his businesses and has provided Jerry with several microloans over the past year. He has recently applied for a new loan that he will use to buy a regular supply of vegetables for his food stall and feed for his pigs. All of the proceeds from his businesses are for the education of his children and to cover daily living expenses. Jerry hopes to employ a number of staff to assist him in operations soon. Jerry's dedication will surely give him the reward of having successful ventures and achievements for his family. He promises to repay the loan over a short period of three months.