Grace

Loan description:

Grace Cerna is 36 years old and married to Mohamed, who is 35 year old. They have two children ages 12 and 5. Both of them are studying at different school levels. Grace and her family live in the village of Poblacion which is in the town of Pinamungajan in Cebu province. Together with her husband she has been running a shop that sells construction and building materials. This has been her family's primary source of income for the past 4 years. Her items include wide variety of paints, nails, pipes, shovels, light bulbs, plywood, hose wires, metal screens and many more items. She also sells hollow blocks, sacks of cements, gravel and sand. She has managed to buy a dump truck and elf truck which she uses to deliver large volumes of orders from customers. Her saleable items are products used to build of local houses. Grace focuses more on the financial aspect of the business while her husband manages and oversees the delivery and warehousing of supplies. She employs ten full-time staff; one of them is female and nine are males. Grace has recently joined the microfinance organisation, Lamac Multi-Purpose Cooperative, in order to have additional working capital for her business. She needs a larger amount of loan to acquire much larger quantity of construction supplies and materials to meet the demand of her growing number of customers. Grace and her husband hope that the business would continue to progress and provide more savings for the education of their children. She intends to repay the loan over a period of three months.