Your gift to help a hardworking entrepreneur will double in impact thanks to a generous World Vision partner.
Vicenta is from Philippines. She needs a loan of $175 to buy more abaca fiber.
Vicenta lives in Matalom, Leyte Philippines and is a 54-year-old mother of five children. Four of her children are grown while her youngest is only 17 years old. Vicenta relies on weaving abaca fiber to earn a living for her family’s needs. However, she lacks the financial capital she needs to buy more fiber to process.
With a loan from World Vision Vicenta will be able to buy more abaca fiber for weaving, as well as pay for transporting the finished product to where it is sold. With the additional profits she will be able to provide for her family's daily consumption and reinvest in her business. In the future, Vicenta plans to continue working hard so that she can look after her youngest child.
Entrepreneurs with specialized skills can apply for a loan in the manufacturing sector. Examples of businesses in the manufacturing sector are making and selling clothes, shoes, machine parts, baskets…the list goes on. These savvy entrepreneurs see the opportunity in their community and, with the help of a loan and their unique talents, can establish their niche. Only 3% of our loans are in the manufacturing sector.
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 the small loan for Vicenta Roces to improve her manufacturing business. She invested her loan of $175 to buy more abaca fiber.
Vicenta has now repaid her loan in full. In addition to repaying her loan, Vicenta has used her additional income to purchase food for the family and expand the current business. Vicenta's 5 children continue to study in school.
The loan Vicenta received helped her business expand and the profits she is earning create lasting improvements in her life. In the future Vicenta hopes to expand the current business and take out another loan.
Vicenta was able to pay her remaining balance and plans to take out another loan soon.
Thank you for your support of Vicenta and World Vision Micro. These funds are now being recycled to support another eager entrepreneur in the same community.