Marivic

Loan description:

Marivic Bascon is 36 years old. Her husband Edgar is 37 years and works overseas. Marivic lives in the neighbourhood of Maranding which is in the town of Lala in Lanao del Norte province. She provides the needs of close relatives who live in the same compound as her. Marivic has managed to productively use the previous earnings of her husband by establishing a small restaurant in the local area. She now offers more than ten different kinds of dishes that include good choices of meat, vegetables and soup. She has also managed to incorporate other food products like barbecued meat and steamed buns. All her offerings are placed on stainless steel containers and glass shelves to ensure cleanliness for her customers. For almost three years Marivic has been able to offer a convenient place for people to stop and eat by placing a few tables and chairs at the side of her restaurant. Marivic currently employs 10 part-time staff who assist her in cleaning the restaurant as well as serving food to the customers. The microfinance organisation, Maranding Womens Investors Multi-Purpose Cooperative, has been supporting her restaurant for three years where she has been able to avail and repay six previous loans. Marivic uses the mobile banking facility offered by the institution to regularly receive loan funds and transfer her repayments. MWIMPC granted her a larger loan amount this time to fulfil her plan of increasing the volume of food she cooks and offers everyday to her community. By receiving a bigger loan she can maintain the affordability of her products whilst increasing the quality of her products. Marivic wishes to save a part of her income for her family and her future health needs. She dreams of having an even bigger business in the future. The term of the loan is relatively short and is payable over six months.