Pedro

Loan description:

Pedro Nable is a 49 year old married man with three children who are aged 19, 16 and 13. Two of his children are already working while his youngest child attends school. His wife, Resuela, is 43 years old and a farmer like him. In their village, which is in the town of Balamban in Cebu province, both of them are engaged in growing root vegetables like sweet potatoes and ginger, as well as fruit like bananas. Sweet potatoes provide a rich source of carbohydrates and a common food for many households, while ginger is popular for its flavour. Bananas, on the other hand, are rich in potassium and one of the most popular fruits in the Philippines. After harvest, Pedro always puts his crops in several baskets to keep them in good condition. He then sells these to his neighbours as well as market vendors and wholesalers in the town. Pedro is very hard working, as well as growing and harvesting his crops he also carries his large loads of products to the market. He also ensures that all his products are grown with passion and heart. Because of his never-ending efforts to improve his business, the microfinance organisation, Lamac Multi-Purpose Cooperative, has granted him a loan of $1313 (50,000 Philippine pesos). He will use it to buy additional tools and equipment for his farming activities and acquire more baskets where he will store his products. He dreams of having a much larger land in the future and become a vital supplier of root crops and fruits in the whole town. He promises to settle his loan over a term of three months.