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Elenita is from Philippines. She needs a loan of $300 to purchase fish hooks, nets, fresh fish and boat repairs.
Elenita Manguiat is a 57 year old mother of two children, she lives with her family in Naic, Cavite Philippines. Elenita works hard as a local fishermen within her community, to help earn a living for her family. At this time, Elenita lacks the funds needed to purchase more fishing equipment for her fishing business and to make repairs on her boat.
With a loan from World Vision, Elenita will be able to purchase fish hooks, fish nets, fresh fish and make repairs on her fishing boat. She'll also be able to expand her business, selling her catch to the local markets for profit. She'll gain new customers and generate more income. With the additional income, Elenita will be able to provide for her family's daily needs.
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 Children’s Helper is located in the province of Cavite in the Philippine islands, to the southwest of Manila. Like most of the Philippines, the region experiences dry weather from December through June and a rainy season from July through November. Floods and typhoons are common threats.
Fishing is a major source of income, with catches including milkfish, crabs, tilapia, mussels, and oysters. Other income-generating activities include agriculture, livestock production, and industrial jobs. Often, families do not earn enough to meet basic needs and children drop out of school to find work. Many children are underweight. The community has access to a shallow well and several pumping stations that provide them with water for household needs.
In Children’s Helper, World Vision is assisting families with income generation through loans and retail projects such as making and selling soap. We are also providing medical checkups and healthcare for children.
Thank you for supporting a small business loan for Elenita Manguiat to expand her food and retail business. After receiving the loan from World Vision, she invested the $300 to purchase fish hooks, nets, fresh fish and boat repairs. Elenita has been repaying her loan on time with her new profits. She makes weekly payments of $15.
In addition to repaying her loan, Elenita is using additional income to purchase food for the family and expand the current business. Elenita's 2 children continue to study in school.
Thank you for supporting Elenita and World Vision Micro!
While Elenita Manguiat initially invested in her business loan by purchasing to purchase fish hooks, nets, fresh fish and boat repairs, she has struggled to repay her loan. While we continued to work with Elenita to help her reestablish her business, I regret to report that Elenita has now defaulted on her loan.
Elenita prays that she will someday be able to restart she business so that she can better provide for her family. Elenita would like to sincerely thank her donors who partnered with her efforts. Please pray for Elenita and her family during this difficult time.
Despite the fact that World Vision boasts a repayment rate greater than 98%, there will always be some loans that do not get fully repaid. While World Vision does everything it can to ensure that this does not happen, it is an unfortunate reality that must be recognized when providing loans to less fortunate populations.
Thank you for your understanding, and your support of World Vision Micro. If you have any questions or concerns, please feel free to call our Customer Care line at 1-888-511-6444.