Eufemia

Loan description:

Eufemia Salvador is a 48 year old wife and mother of three children whose ages are 23, 19 and 16 respectively. Her eldest has already finished her studies and currently works as a bookkeeper while the other two are both in college level. She is married to a 59 year old man named Fortunato who is a farmer in their village at Mataas na Kahoy which is in the town of Gen. Natividad, Nueva Ecija province. Eufemia is busy in the daily operations of her grocery store business which is also located in an area adjacent to their residence. She has been able to open the business through their small savings from her husband’s farming activities. Since her husband’s income is occasional, she then decided to help provide their daily needs by selling different sorts of consumable goods and merchandises. She is assisted by two close relatives who volunteer in selling the products in exchange of daily food allowances. Most of the items Eufemia offers in the store are condiments, canned goods, shampoos, seasonings and crisps. She also has stocks of sodas and other refreshments. She stays inside the store where the products are well-arranged because of customised wooden shelves that gives the facility a very pleasant ambiance. She normally visits the nearby town centre every time she needs to re-stock and acquire additional goods. All her products are responsively priced according to the needs and capacities of people in her community. The business is now running for eight years. The loan she received from the microfinance organisation, Alalay sa Kaunlaran is intended for the purchase of more consumable goods in bulk. This will grant her the opportunity to increase her daily sales and slightly reduce the cost of her products. She will save her income for the college education of her two children. Through time, Eufemia also wants to help her husband buy fertilizers and useful tools for his farming business. The said loan is worth 25,000 Philippine pesos and repayable over the duration of six months.