Carmilita

Loan description:

Carmilita Venaracion is 62 years old and married with four children who are aged between 39 and 27. All of her children are working and some have their own families. Carmilita has a 64 year old husband named Sotero who works as a mechanic. For the past ten years, Carmelita has been maintaining the regular operations of her small business which has become vital in providing for their everyday financial needs. Her shop is located in the neighbourhood of Poblacion, which in the town of Laur, Nueva Ecija province. Her store offers different kinds of dry goods and useful items which include mobile phone accessories, bags, socks, pouches, flashlights and sponges. She also offers school supplies like notebooks, pens and pencils. She has acquired a number of regular customers who buy durable and affordable goods for their respective households. Most of her products are well-arranged on long wooden tables while some are displayed and hung all over the shop. This enables her valued customers to freely choose their desired items. This has been her business for almost ten years. Carmelita has been a member of the microfinance organisation, Alalay sa Kaunlaran, for more than a year. She has sought a loan amounting to $244 in order to acquire more goods in bulk from her regular suppliers. She wants to serve more of her customers by offering additional kinds of merchandise. She will save her income for her and her husband’s future health needs. Carmelita also dreams of helping her children financially and her grandchildren. She promises to repay her loan over six months.