Marichu

Loan description:

Marichu Genson is 33 years and married with two children aged nine and six who are both at elementary school. She is married to Cirilo, a 30 year old man who works as a meat vendor in their neighbourhood of Cogon in the town of Tuburan, Cebu province. To help in the family’s daily finances, Marichu established an eatery three years ago where she cooks six or more dishes everyday for her valued customers. The eatery is located in the nearby community of Brgy. 4 and it has a number of plastic tables and chairs that she has provided for the people who want to eat in her store. Through the income she earned from the business, Marichu was able to purchase two refrigerators; she uses the first to keep the ingredients fresh and the other is being used to chill water and softdrinks. She has also managed to repair the walls and ceiling of the eatery and replaced them using new wooden materials. She is assisted by four regular staff members who help her cook and serve the food to her customers. Marichu has been a member of the microfinance organisation, First Consolidated Cooperative since it was founded. Because of her good credit standing, the institution has given her a new loan that she will use to buy more ingredients as well as continue the renovation of her eatery. The income she generates will be deposited in her savings account and will be used to support the financial needs of her children, especially their education. Marichu dreams of establishing new branches of her eatery in nearby communities in the future. She is willing to return the loan over a period of four months.