Eulogio

Eulogio Llamos is a 64 year old married man with three adult children. All of his children are married and living separately. His wife is Fe who is 66 years old. The couple has been managing a fruit stall in the town's public market of Toledo since 2003 for financing their household needs. The income mainly goes towards dealing with their living expenses and sending their children to school.The family lives in the village called Ibo, Toledo in Cebu province.

For the past 26 years, the couple has been selling variety of fruits such as bananas, apples, mangoes, watermelon, oranges, pineapples and other seasonal fruits. She rents four stalls in the market so she could display her products properly. This year she had paid more than twenty thousand pesos (around £306.48) for her annual permit and taxes to continuously operate her business. Her business is open daily from 5 in the morning until 8 in the evening. The busiest days are on weekends since lots of customers visits the market.

The couple does not employ anyone since they could manage running the business by themselves. Her daily average sales is about 8,000 pesos (around £122.59) and she earns more during weekends. Twice or thrice a month, Eulogio's wife Fe goes to Cebu city to purchase bulk of fruits from different wholesalers in the market. She rents a multi-cab making her purchases since they do not have their own vehicle yet. She hires one male to help in lifting heavy crates of fruits.

Eulogio on the other hand has been engaged in animal rearing and vegetable farming too. After feeding his cows and goats, he goes to the market to help Fe in attending the customers orders.

Since 2006, Eulogio has been a loyal member of the MFI-Lamac. He has repaid several loans already that help him access more funds for their business and use the loans in building their house and dealing with their household expenses. Recently, he availed another larger loan in order to access more funds to purchase more fruits to sell at their stall. He also use some of the loan money to install a new gate for their house. Eulogio is thankful for the loan helps. The loan investment in their business buy more products so that they can meet the customers needs and get a better sale income.

Despite their elderly age, the couple are still active in running their business and continuously earn an income to deal with their needs and also provide financial help to their married children and grandchildren. He will repay the loan monthly for twelve months term. The loan will be repaid in 12 month's time.

‘This loan was disbursed before the implementation of measures imposed to restrict the spread of coronavirus/COVID 19. It is extremely probable that these measures will impact on repayments from this entrepreneur. Please consider this before supporting this loan.’