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Abundio is from Philippines. He needs a loan of $300 to buy merchandise for variety store.
Abundio is from Philippines. He needs a loan of $300 to buy merchandise for variety store.
Abundio is 55 years old and lives in Hilongos, Leyte Philippines. He owns a Sari-sari (variety) store, which is his only source of livelihood. Abundio wants to improve his store so he can better provide for the basic needs of his family.
A World Vision microloan will allow Abundio to buy items in bulk, and in different brands, which will attract more customers and earn him more profits.
Any additional income will be used for his family's daily needs and for savings to reinvest in the store to ensure it remains a viable source of income.
Retail is a quick and scalable way to begin earning a profit. Many entrepreneurs begin with stalls at markets or even at home and need a loan to expand or increase their inventory. Others may be ready to open a small store. Goods purchased from loan funds range from clothing, grocery or sundry items to jewelry, candy, perfume or health and beauty supplies. Loans in the commerce sector account for around 33% 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 Abundio Napoles to expand his retail business where he sells sari-saris. After receiving the loan from World Vision, he invested the $300 to buy merchandise for variety store.
Abundio has been repaying his loan on time with his new profits. He makes weekly payments of $15.
In addition to repaying his loan, Abundio is using additional income to purchase food for the family and expand the current business.
Thank you for supporting Abundio and World Vision Micro!
Thank you for supporting the small loan for Abundio Napoles to improve his retail business. He invested his loan of $300 to buy merchandise for his sari-sari store (convenience store).
Abundio has now repaid his loan in full. In addition to repaying his loan, Abundio has used his additional income to purchase food for the family, buy supplies in bulk and expand his current business.
The loan Abundio received helped his business expand and the profits he is earning is creating lasting improvements in his life. In the future, Abundio hopes to repair or expand their home and expand his current business.
Thank you for your support of Abundio and World Vision Micro. These funds are now being recycled to support another eager entrepreneur in the same community.
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