Ricky Coca

Minglanilla, Cebu, Philippines, Philippines

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Ricky needed £3064.06 for his business.

Amount Requested

Amount requested:

£3064.06

Repayment term

Repayment term:

10 Months

Activity type

Activity type:

Transport

MFI Partner

MFI partner:

LAMAC

Ricky Coca is a 51 year old married man who has two children age 11 and 6 years old. Both are attending school in their place called Lower Pakigne, which is in the town of Minglanilla in Cebu province. Ricky is a senior
mechanic who works in a shipping company but he temporarily stopped working two years ago in order to focus on operating a public use ‘jeepney’ (a taxi jeep, which are very common in the Philippines) and stay with his family. In 2011 they purchased two jeepneys. They earn 700 pesos a day per vehicle for renting out each jeepney. At present, they have 12 jeepneys that roam the streets of Naga, Bulacao, Cebu city and Labangon. They earn a different rent each day for each jeepney since there are smaller and bigger ones that can accommodate 8 to 16 passengers. They also employ two full-time mechanics who fix and regularly check their jeepneys to ensure the safety of their passengers. Ricky became a member of Lendwithcare’s microfinance partner, named Lamac Multi-Purpose Cooperative. He has already received and repaid three past loans in over two years of being a member. Ricky recently requested this larger loan in order to have the money to fix his three jeepneys, which broke down. He wanted to fix it immediately so his three drivers can resume work and earn for their family. Ricky and his wife Jeany Veb are both happy to start
a business that can generate employment for people in their village. This year, Ricky plans to work again so he can earn more and plans to add two jeepneys. Ricky promises to repay his loan over a period of ten months.

loan added: 09 March 2018

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Ricky's loan Repayment schedule

Date Expected repayments Actual repayments
March 2018 £278.55 £278.55
April 2018 £278.55 £279.69
May 2018 £278.55 £290.95
June 2018 £278.55 £292.99
July 2018 £278.55 £293.91
August 2018 £278.55 --


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