Mario Catado

Minglanilla, Cebu, Philippines., Philippines

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Mario Catado
Mario Catado
Mario Catado
Mario Catado
Mario Catado
Mario Catado

Mario needs just £1216.67 to complete his loan



Amount Requested

Amount requested:

£1576.67

Repayment term

Repayment term:

12 Months

Activity type

Activity type:

Shop

MFI Partner

MFI partner:

LAMAC

Mario Catado is 45 years old and married to Rubie, who is 47 years old and works for the government. They have three children living with them in the village of Tunghaan, which is in the town of Minglanilla in Cebu province. Mario was first funded by Lendwithcare lenders in December 2015 and fully repaid his loan on time. You can see his previous loan here.
Mario has been running a business selling newspapers for the past 19 years now. He currently rents 3 outlets and commissions 10 peddlers. Peddlers usually acquire newspapers from him on a consignment basis and roam the area in order to sell the products. Mario has a reliable supplier of daily newspapers that bulk delivers the items early in the morning. As well as newspapers he also sells cold drinks and other consumable goods to earn an additional income. She hires four staff who manage his three outlets. One of his stalls is open for 24 hours and he has a shift employee. For his three outlets, he pays 25,500 pesos rent (about 361) on a monthly basis and earns average daily sales of 12,000 pesos (about £170). The earnings from his business helped a lot in sending his children to school. His eldest child is a mass communication graduate and is now working. He will continue running his business as he is supporting his other two children who will enter 3rd year of college and senior high this term. Mario requested this loan from Lendwithcare’s microfinance partner, Lamac Multi-Purpose Cooperative, for two reasons. First, he will use half of the loan money to pay the tuition fees of his two children and he will use the rest to have more funds to buy the daily newspapers. His suppliers requires him to pay in cash when he buys newspapers. He wants to earn more
and hopefully find a space of his own so he can save on his monthly rent. He promises to repay his loan in a period of 12 months.

Loan added: 17 May 2018

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Mario's loan repayment schedule

Date Expected repayments Actual repayments
June 2018 £143.33 Available 01/06/18
July 2018 £119.44 Available 01/07/18
August 2018 £119.44 Available 01/08/18
September 2018 £119.44 Available 01/09/18
October 2018 £119.44 Available 01/10/18
November 2018 £119.44 Available 01/11/18


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