Mercy

Loan description:

Mercy Cañonero runs a small-medium sized business employing six full-time staff. She is 50 and a single parent with three adult children. Her elder two children have both completed a business course and the youngest works as a driver. Mercy also has a 13 year old granddaughter currently at school. She lives in Negros Occidental province. She got separated from her husband 14 years ago. Mercy works as a large fishmonger in the public market. She learned this business from her father starting when she was just 10 years old. At the age of 15 Mercy established her own business with a starting capital of approximately $75. Gradually over the years she has built her business up and now also sells to other retailers and restaurants. Some of the stock is sold by other family members. She still maintains a small stall in the public market where she sells fish by kilo. After 35 years of running the business, she was finally able to acquire a delivery truck to transport 30 containers of fish from the fish port in the city. This is a two hour drive from her place of residence. She delivers fish on average 5-6 times a week and employs six full-time staff - drivers, porters and vendors. She herself has experienced the hardships and challenges of being a small fish vendor with large financial responsibilities. Mercy has been a member of the microfinance organisation First Consolidated Cooperative for some four years and she has already repaid several loans. She applied for a new loan in order to pay off the final instalment for the delivery truck as well as investing in her another pig raising business. She has seen a plot of land which she can use to raise the animals. She intends to repay the loan over 18 months.