Melchora

Loan description:

Melchora Nieves is 60 years old and married. She has two grandchildren who are aged 10 and 5. She serves as guardians of these children while their parents go to work as well as supports their educational needs. Her grandchildren are studying at elementary and pre-elementary levels respectively. Her husband, Antonio, is 61 years old and a businessman. Her whole family happily resides in the town of Pardo, Cebu province. Melchora is an expert cook and prepares various kinds of special dishes, which she sells in her restaurant. She learnt all her cooking skills through experience and proper guidance from her mother, along with her dedication to learn different styles of cooking. With help from her husband, Melchora has become an owner of a growing restaurant that sells delicious meals to the community. Her business is located in an area near their house. She regularly makes more than ten types of dishes to sell everyday in small volumes. Melchora is always careful to keep her dishes fresh and clean so as to ensure her food is of the highest quality. She also maintains orderliness and cleanliness in the whole business facility, particularly in the kitchen and dining area. She does not charge high amounts for her products, but instead provides her customers with affordable and healthy meals. Her restaurant is now a vital source of income for her family for the past 12 years. The microfinance organisation, Lamac Multi-Purpose Cooperative, has been supporting her venture since its establishment. In fact she has already successfully completed three past loans that enabled her to expand her business. She recently availed a loan amount of $1575 (60,000 Philippine pesos) in order to increase the volume of food that she prepares daily and to purchase more chairs and tables for her growing number of customers. A big part of her income is for the education of her beloved grandchildren. She would like to continue to expand her business and pass on her legacy to her loved ones someday. She is willing to settle her loan over a period of twelve months.