Lucia

Loan description:

Lucia Ladores is 37 and married with two children aged 12 and 7. Both children are in elementary school. She lives with her husband, Angel, and children in the neighbourhood of Apalaya, which is in the town of Dingalan, Aurora province. For the last 12 years Lucia has worked as a fishmonger from the local public market. She buys her stock from wholesalers, including her husband. She presents the fish in several enclosed styro-containers that she uses to segregate her products and to maintain their freshness. She always makes sure that the containers are clean before she places her products in them. She allows her customers to choose their desired fish by looking inside the containers and she then weighs it to determine the price. Most of her customers are mothers who buy a few kilograms regularly, but sometimes she encounters buyers who demand greater quantities of fish. Fish is a staple part of the Filipino diet. Her close relatives also assist with the business during peak seasons. Lucia has been an active member of the microfinance organisation, Alalay sa Kaunlaran, for the past five years and she has already repaid a number of loans. She also owns a savings account at the institution where she deposits a portion of her earnings. She sought a new loan of 100,000 Philippine pesos in order to add more stocks of fish for her fish vending business. She would also like to use a part of the loan in acquiring a small fishing boat that her husband can use. Her future income will be used for the studies of her children and to acquire a service vehicle for the business. She intends to repay the loan over a short period of six months.