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Reynaldo is from Philippines. He has 1 child. He needs a loan of $175 to buy spare tires for his tricycle.
Reynaldo is an ambitious, 26-year old, with a one-year old son, Jhon Sherwin. His family lives in Bato, Leyte Philippines. Reynaldo earns his income driving a tricycle for transporting customers, in order to provide for his family's basic needs.
He is asking for a World Vision microloan to purchase some spare tires for his tricycle, so he can be assured of uninterrupted service to his customers.
The additional income will be used for his family's daily consumption and improved living conditions. Any savings will be used toward a Sari-sari (variety) store that his wife hopes to open in the future.
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 Reynaldo Toniacao to expand his transportation business. After receiving the loan from World Vision, he invested the $175 to buy spare tires for his tricycle. Reynaldo has been repaying his loan on time with his new profits. He makes weekly payments of $8 .
In addition to repaying his loan, Reynaldo is using additional income to purchase food for the family and expand the current business. Reynaldo's child continues to study in school.
Thank you for supporting Reynaldo and World Vision Micro!
Thank you for supporting Reynaldo Toniacao’s transportation business through World Vision Micro. Reynaldo invested his small business loan of $175 to buy spare tires for his tricycle. He has made weekly payments of $8 and has now fully repaid his loan.
With the profits from his business, Reynaldo decided to purchase food for his family and expand the current business. Reynaldo’s goal for the future is to earn enough so that he can repair or expand their home and expand the current business.
Reynaldo’s 1 child remains in school. Because of your donation, Reynaldo is able to provide a better future for his 1 child.
Thank you for providing Reynaldo with hope and a future. These funds are now being recycled to support another hardworking entrepreneur in the same community.