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Maria is from Philippines. She needs a loan of $425 additional capital.
Maria is from Philippines. She needs a loan of $425 additional capital.
Maria Cabando is a resident of Dawahon, Bato, Leyte in the Philippines. She is 55 years old and although her children are all adult, she works hard so that she can be financially secure. She farms seaweed for an income. This has been a profitable business in her island.
To earn a profit, she needs to invest in her business. A loan will enable her purchase supplies such as straw and wooden pegs. This will help her grow her business.
Any additional income earned, Maria will use for home renovations and to help meet her daily needs.
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.
Maria Cabando invested her money into her seaweed farm by purchasing things like straw and wooden pegs. The loan allowed her to expand her business. In addition, her business was able to start on time.
With the help of her family, Maria is repaying her loan on time. Thank you for supporting Maria and World Vision Micro!
Thank you for supporting the small business loan for Maria Cabando to improve her farming business. Maria has now repaid her loan in full.
In addition to repaying her loan, Maria has used her additional income to purchase food for the family and expand the current business.
The loan Maria received helped her business expand and the profits she is now earning create lasting improvements in her life. In the future Maria hopes to repair or expand their home and expand the current business.
Thank you for your support of Maria and World Vision Micro. These funds are now being recycled to support another eager entrepreneur in the same community.
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