Amount requested:

£919.94

Repayment term:

12 Months

Activity type:

Food Shop

MFI partner:

SEEDFinance

Serafin Garcia Jr. is 42 years old and lives in the town of Malolos in Bulacan province. He is married to Dalia who is 43 years old and they have two children aged 16 and 12. Both of his children are presently studying. Serafin owns a shop that sells cold drinks and desserts and is located very close to a big high school. His shop offers a wide variety of refreshments such as distilled water, buko pandan juice, black gulaman juice and such other flavours depending on the season. Aside from juices, his customers can also buy smoothies and shakes that come in different flavours and with different toppings. Some of his best selling shakes are cookies and cream, double dutch, rocky road and buko pandan with colourful candies or sprinkles on top. For almost 11 years, Serafin has been running his business and now employs four people to help in his shop. He has been an active member of the microfinance organisation, St. Francis Multi – Purpose Cooperative, for almost seven years with an excellent repayment record. Counting on the successful years of his business, Serafin is now planning on opening a new branch in a newly established shopping mall in the area. Due to this expansion plan, he is now requesting a loan amounting to $1313 (50,000 Philippine pesos) so he can purchase new stock and equipment. He intends to pay this loan over a period of twelve months. The future income that he will be able to generate from the business will be used to support the future college studies of his sons.

loan added: 01 October 2013

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Serafin jr.'s loan Repayment schedule

Date	Expected repayments	Actual repayments
October 2013	£83.63	£83.63
November 2013	£69.69	£67.15
December 2013	£69.69	£67.00
January 2014	£69.69	£66.06
February 2014	£69.69	£65.39
March 2014	£69.69	£65.58
April 2014	£69.69	£65.03
May 2014	£69.69	£0.00
June 2014	£69.69	£65.13
July 2014	£69.69	£63.83
August 2014	£69.69	£64.75
September 2014	£69.69	£65.13
October 2014	£69.69	£63.83
November 2014	£69.72	£65.11