Venus

Loan description:

Venus Carillo is 37 and married with a six year old daughter who attends a pre-elementary school. Her husband Uriel is 42 and works as a local secretary in the district of Pondol in the town of Balamban which is in Cebu province. Through their combined efforts they have built up a successful business that sells car and motorcycle parts and supplies including tyres, front covers, rear covers, bulbs, paints, oils and helmets. Most customers tend to be motorcycle owners since this is the most popular (and cheapest) form of transport in the Philippines. Venus displays stock on wooden shelves inside the shop as well as hung from the ceiling. As the business has grown, she now provides full-time employment to three staff who help her to attend to customers. Over the last three years she has been a member of the microfinance organisation Lamac Multi-Purpose Cooperative. During this time she has received and repaid seven short-term loans. She requested an eighth loan because she wants to buy new stock. She expects to take on further staff if the business continues to expand. Venus intends to repay the loan over just three months.