Cyrell

Loan description:

Cyrell Reyes is a 37 year old married woman with a 10 year old daughter who is currently studying in primarily level. Her family lives in the village of Balangkare Norte which is in the town of Gen. Natividad, Nueva Ecija province. Cyrell manages a shop that caters for repair services to local vehicles in their area. Her husband, Reynan, is 34 years old and a professional mechanic who serves as her helping hand in making the daily operations of the shop successful. She is usually the one who welcomes the customers in the shop and asks for the services they want. She also takes the responsibility for saving the daily revenue as well as allotting the budget for buying tools. Her husband, on the other hand, does the actual repairing of the vehicles. The customers are mostly motor-cab, jeepney and car owners who seek for proper repair and maintenance of their vehicles. Cyrell always ensures that the equipment and machineries, as well as other tools that her husband is using are in good condition in order to effectively and efficiently deliver their service to the customers. She also hires two close relatives who assist in the daily repairing activities of the shop. A small area in front of their residence serves as the business’ work station. This has been her family’s vital source of income for the past fifteen years. Cyrell has been an active member of the microfinance organization, Alalay sa Kaunlaran for almost three years where she already repaid five past loans. This time she availed a new loan worth $1221 that she intends to repay over a period of twelve months. She plans to use it for the purpose of acquiring more tools and equipment for the repair shop. This will enable the business to cater for more customers at a given time. Any increase in her income will be saved for the future college studies of her daughter. Cyrell dreams to have a larger vehicle repairs and spares shop in the town centre someday.