Neria

Loan description:

Neria Seclon is a 62 year old woman who lives in the neighbourhood of Nabago in Surigao province. She is already a widow and has 5 children who now have their own families. She currently takes care of her two grandchildren; aged 12 and 10, both of them are studying in a local primary school. For the past 10 years, Neria has been a very hardworking person, operating a small business in the nearby public market of Kaskag. She sells “alimasag” - a kind of crab species found in salt water. This product is very salable because it is cheap compared with other large kinds of crabs. After ordering a few kilos of alimasag from a local supplier, she then offers it to people who visit the public market but she adds on a small mark-up price. She uses a small plastic basket container to keep the crabs in. She has requested a loan from the microfinance organisation, Surigao Economic Development Foundation where she has been a member for 3 years in order to expand her daily stocks of small crabs and to buy a new set of weighing scales for the business. In this way she can ensure that the customers are receiving products equal to what they have bought. She hopes to encourage more regular customers in the future and have a good health so she can continue to take good care of her grandchildren. She is willing to repay the loan over a period of six months.