Magna

Loan description:

Magna Dagohoy is a 60 year old woman who lives in an island community in the Southern Leyte province. She is single and owns a business that offers home-based food catering services. She started her business last year with a small loan worth 2,000 Philippine Pesos or $50. She cooks and sells different kinds of meals in small volumes, mainly to her neighbours. Her customers like their food and are always keen to taste it. She currently employs two assistants who help to meet the demands of her growing customer base. At present, she cooks a number of meals daily and also provides catering services for events. Magna cooks all her products in her house with her own kitchen tools and equipment. She is one of the few people in the island who successfully manage a business despite of a number of challenges, the main one is probably having to source her ingredients in the town centre located in the main island of the province travelling by boat. When there are storms or low pressure areas it is difficult and sometimes impossible to travel. Magna’s daily earnings are 500 Philippine Pesos. She sometimes earns more during holidays, or if somebody hires her food catering services. Magna is an active member of the microfinance organisation, Islander Multi-Purpose Cooperative, for 18 years she has used their services and repaid several loans. She has recently applied for a large loan which will be beneficial for the acquisition of ingredients and cooking equipment. She looks forward to continuously improving her business and to make savings for her future health needs.