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Dennis is from Philippines. He needs a loan of $300 to purchase a motorcycle.
Dennis is from Philippines. He needs a loan of $300 to purchase a motorcycle.
Dennis is a thirty five year old resident of the Leyte province of the Philippines, and he earns a living with his transportation business. He transports customers on his motorcycle. He needs to expand his business in order to improve living conditions for his family. However, he lacks the capital he needs to invest in the business in order to increase his income.
Dennis is requesting a loan from World Vision so he can make a down payment on a second motorcycle. With the additional income he will earn as a result of this improvement, he will be able to provide the daily necessities for his family. In the future, Dennis plans to continue to invest in his business and create a savings for his family.
In areas where the poor live alongside the more affluent, businesses in the service sector can be very successful. Services include flower cultivation, tailoring/sewing, transportation, repair work, beauty salons and barber shops, and restaurants. Loans are needed to begin, expand, or sustain business with tools and supplies. Loans given to entrepreneurs in the service sector account for around 7% of our loans.
The community of Omega, located in the Southern Leyte province of the Philippines, is home to a large population of farmers and fishermen. On average, 11 of the Philippines’ approximately 24 annual typhoons affect this area. Along with poor farming and fishing practices, this contributes to the depletion of natural resources, which affects economic prosperity. Farmers mainly grow rice, coconut, and sugar cane. Fruit and vegetable production is limited, and many families struggle to find sufficient nutrients.
Nearly 50 percent of the area’s residents live in poverty. As a result of economic struggles, many children drop out of school and seek work in places such as the sugar cane fields or urban areas. These children often face exploitation and abuse.
In Omega, World Vision is helping community members create a more sustainable future by providing training in livestock raising and fertilizer production, distributing small loans, and developing businesses. We are also educating families about child rights and operating children’s associations.
Thank you for supporting a small business loan for Dennis Saga to expand his transportation business. After receiving the loan from World Vision, he invested the $300 to purchase a motorcycle.
Dennis has been repaying his loan on time with his new profits. He makes weekly payments of $15.
In addition to repaying his loan, Dennis is using additional income to purchase food for the family and expand the current business.
Thank you for supporting Dennis and World Vision Micro!
Thank you for supporting the small loan for Dennis Saga to improve his transportation business. He invested his loan of $300 to purchase a motorcycle.
Dennis has now repaid his loan in full. In addition to repaying his loan, Dennis has used his additional income to purchase food for the family and expand his current business.
The loan Dennis received helped his business expand and the profits he is earning is creating lasting improvements in his life. In the future, Dennis hopes to repair or expand their home and expand his current business.
Thank you for your support of Dennis and World Vision Micro. These funds are now being recycled to support another eager entrepreneur in the same community.
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