Imelda

Loan description:

Imelda Eguna is 55 years old and married. She lives in the neighbourhood of Ipil which is in the province of Surigao. She is responsible for providing the basic needs of her 13 year old daughter and 15 year old grandson who are currently studying at high school. Her husband, Francisco, is 38 years old and works overseas. To help her husband provide for the family financially, Imelda established a business that makes and sells different kinds of delicacies. She learned how to make these delicious snacks after a few months of training. These snacks are known locally as “puto” and are made from fresh wheat and steamed together with sugar, egg, cheese and various flavourings. To make her products unique, Imelda always places the puto in banana leaves which adds to the colour and taste of the snack. Imelda was able to purchase a small glass display cabinet where she displays all the puto she makes. Aside from puto, her food shop also sells sodas and bottled water. At the moment, she employs seven regular staff; three are relatives, who help in making and selling the puto. Imelda availed a small loan from the microfinance organisation, Surigao Economic Development Foundation in order to purchase more flour and other ingredients so she can meet the demand for her snacks. She has been a member of the institution for seven years and has repaid 14 previous loans. Imelda will use the proceeds of the business on her daughter and grandson's education. She dreams of owning a large bakery in the future. She is willing to repay the loan over twelve months.