Agustino

Loan description:

Agustino Alfar is 50 years old and married with two dependents - his nephew who is 20 and his niece who is 19. Both of them attend college. He lives with his family in the neighbourhood of Poblacion, in the town of Pinamungajan in Cebu province. Together with his wife Erna he has for the last three years run a business that supplies construction materials and building supplies. Items include plywood, timber, wooden poles, abaca mats, metal screens, pipes and a variety of paints. He employs five full-time staff. Most of his customers require the products to make repairs and construct their homes. He bought a small van which he uses to deliver some of the smaller items. He has a steadily growing business. He has been a member of the microfinance organisation, Lamac Multi-Purpose Cooperative, for a number of years (he also has a savings account with the same institution) and has used loans in the past to buy stock and use as working capital. He has sought another 12 month loan in order to purchase a larger quantity of supplies, particularly paints, and building materials. He also wants to make some modifications to his premises with the loan.