Philippines
Loan description:
Vivid Pilapil runs a restaurant that employs seven full-time staff. It is an important small to medium sized business in her local community. In addition to supporting small businesses Lendwithcare supports slightly larger local businesses that create waged employment earning opportunities for low income people.
Vivid is 54 and her husband Gerardo is 65 and a farmer. She started the business 19 years ago - she was working full-time as a housewife previously. With help from her husband Vivid used their combined savings to start the restaurant which initially offered only a limited range of meals. Over the years the restaurant has grown to become a successful business in Nangka, Balamban in Cebu province. The restaurant is situated right in front of the town hall and is frequented by market vendors, drivers, businessmen and general passers by and shoppers. Vivid's restaurant is called 'Balamban Food Mart'.
Some staff are responsible for cooking, others for serving and cleaning and others to buy fresh ingredients. Vivid herself cooks also. She offers up to 20 different dishes each day. She offers beef, chicken, pork, fish and vegetarian dishes with plenty of fruits, bread and other snacks. The ingredients are fresh and bought each day from the local market which is located a few minutes away. The restaurant has several tables and can serve dozens of customers at any one time. Vivid decorates the restaurant according to the season, currently is is festooned with Christmas decorations.
Vivid has been a member of the microfinance organisation, First Consolidated Cooperative, for the past two years and has already accessed several very short-term loans to run her business. She requested a loan of 400,000 Philippine pesos in order to buy ingredients and food in bulk as she expects to be particularly busy during the festive period and cope with more customers. Vivid also has a savings account with the same institution.
Vivid does not have any dependents but helps relatives from time to time. As the business grows she does expect to take on new staff. Vivid intends to repay the loan over 24 months.
Loan added: 30 December 2012
Vivid's loan repayment schedule
| Date | Expected repayments | Actual repayments |
|---|---|---|
| £664.56 | ||
| £369.20 | ||
| £369.20 | ||
| £369.20 | ||
| £369.20 | ||
| £369.20 | ||
| £369.20 |
The above amounts are indicative, based on the exchange rate the day this loan was added to the website. The actual amounts you will receive will be based on an exchange rate at the time the repayment is returned to your account. See our Help Centre for more information.
