Bernard

Loan description:

Bernard Nengasca is 31 years old and married with three children. His 17 year old daughter and 16 year old son are both at secondary school while his youngest child, who is 11, is at elementary school. His wife is Joy who is a full-time housewife. To aid in his family’s daily finances, Bernard has established a small grocery store and has been running it for ten years. He sells various commodities and necessities to the people in his community, which is Poblacion, a neighbourhood in the town of Alonguinsan, Cebu province. The store is located in front of their house and it offers products like washing detergent, hygienic products, snacks, canned goods and sodas. Because of his hard work, his business has grown from a small sari-sari store into a grocery store that has a good number of stocks. Bernard also offers electronic loading services for mobile phones. He currently hires one regular assistant who helps him in the daily selling activities of the store which is roughly from 7 in the morning to 10 in the evening. Through the support of the microfinance organisation, Lamac Multi-Purpose Cooperative where he has been a member for the last 6 years, he has been able to acquire a loan to help him provide more stocks of merchandise including eggs and seasoning. The proceeds will be used on his children’s education until they finish college and a part of it will be saved in his deposit account, which he has with LMPC. Bernard hopes to own a new branch of his grocery store in other parts of the town as well as hire more people from the area. He is willing to repay the loan over a period of 18 months.