Alicia

Loan description:

Alicia Gloria is a 68 year old married woman with four children. All of Alicia's children now have their own families. Her husband, Danila, is 62 years old and a businessman. Alicia manages to provide a supplementary income for her family through a small grocery store that she has been operating for almost three years. The store is located in an area adjacent to their house in Cagdianao, which is in the town of Claver, Surigao del Norte province. Her store mainly offers consumable items on a retail basis and includes powdered drinks, seasonings, condiments, shampoos, toothpastes and biscuits. Her store is relatively small and made from wood panels. Even though she only offers a few products, Alicia always ensures that important items are available to buy. Two of her close relatives assist her in purchasing additional merchandise from the nearby town centre. Alicia maintains a log book where she notes all cash flows in order to monitor the financial status of her business. She has also been an active member of the microfinance organisation, Surigao Economic Development, since 2003 and has already completed sixteen successful loan requests. These microloans have been used to make her business stable and progressive. She has availed a larger loan this time for the purposes of increasing the number of products she offers everyday. She also wants to add items including canned goods, snacks and sodas. This will enable her to serve more people in her community by providing cheaper and more varied goods. Alicia’s income is intended for the continuous growth of her business until it has become a fully-grown convenience store someday. She looks forward to settling her loan over twelve months.