Pinamungajan, Cebu, Philippines, Philippines
Augustus needed £1594.20 for his business.
Augustus Reyes is 70 years old and manages a ‘copra’ buy and sell business at Poblacion Pinamungajan in Cebu province. ‘Copra’ is dried coconut kernels, from which oil is obtained. He is married to Ana who is 64 years old and they have three adult children. He buys his copra from several people who lives in the 27 barangays (neighbourhoods) of Pinamungajan. He has been in this business since a young age and is very well known among many villagers. Indeed, the income he earns from his business has helped a lot in meeting their household expenses and sending his children to the highest education. At present, he employs two male workers to do work such as lifting heavy sacks filled with copra and weighing it. He pays them $5 each. Once a week, he sells 7 tons of copra to a local trader, who visits his place. Augustus has been a loyal member of Lendwithcare’s microfinance partner, Lamac Multi-Purpose Cooperative, for twenty years. He has received and repaid several loans. He requested this larger loan in order to pay the villagers who he buys copra from. Augustus will continue doing this business so he can provide many villagers with a means of earning a living. He will repay his loan over a period of three months.
loan added: 09 January 2018
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North Berwick Rotary Club
Isle of Wight