Nancy

Loan description:

Nancy Pierson is 44 years old and married with three children who are aged 19, 15 and 8. Her eldest child has already finished college and works as a businesswoman while her other two children are both studying at the local school near where they live in Baliwagan, in the town of Balamban, Cebu province. Her husband, William, is 45 years old and a health and safety inspector. Nancy assists her husband in providing for their family by operating a small shop which focuses on printing photographs and other such materials. Her business serves a lot of people who need photographs for job applications or for school. Unlike other printing shops in the town centre, Nancy only charges small amounts to her customers but she does not sacrifice the quality of her services. Her shop is relatively small and consists of a few computer units and printers. She also accommodates rushed orders of photos for those who urgently need them. Nancy displays a few samples of her high quality photos at the front of her shop, so that customers can see the results of her production. She has also placed a small sign in front of her shop for customers to easily recognise her business. This has been her source of income for the past 23 years and is happy to know that many people still trust her shop despite the growing number of luxurious printing shops in the area. Nancy has sought a loan from the microfinance organisation, Lamac Multi-Purpose Cooperative, in order to acquire more printing materials and equipment for her business. She has been a member of the institution for three years and has completed six past loans. She wishes to increase her income, which she will use for the studies of her children. A small part of it shall be saved for the future renovation of her shop. Nancy plans to settle her loan over a period of three months.