Gaudioso

Loan description:

Gaudioso Delostrico is 63 years old and married with two children who are aged 14 and 13 who are both at high school. Gaudioso and his family live in the town of Alegria in Cebu province. His wife is 52 years old and a very supportive housewife. Gaudisio is an owner of a growing sari-sari (convenience) store which is located in an area adjacent to their house. His store focuses on selling a few stocks of consumable items including powdered drinks, crisps, noodles, biscuits, condiments and hygienic products. All of these products are useful for the everyday living of people around the area and he is glad to serve his neighbours by providing affordable and quality goods. His is also engaged in selling sodas and other refreshments. In fact, he has been able to get support from a soda supplier to provide him with a refrigerator that he is now using to keep the products chilled. His wife is also responsible in manning the store whenever he needs to visit the nearby public market and purchase new stock. His store is relatively small, but made of concrete walls. This has been his vital source of income for the past twenty-two years. Gaudioso has sought the aid of the microfinance organisation, Lamac Multi-Purpose Cooperative, where he has been a member for two years and repaid a total of three loan cycles. The latest loan he has received is to acquire merchandise for his store in bulk. This will lead to higher profit returns for Gaudioso and provide more goods to more people in his neighbourhood. He will use any increase in his income on the studies of his beloved children until they finish college. He hopes to convert his store into a large convenience store if he can save enough of his profits. Gaudioso wants to completely repay his loan over three months.