From Strength to Strength

Alma is one of Honor 1000’s Microfinance clients in the Philippines. Her main place of sale has been at schools catering primarily to students and teachers. But because the pandemic has forced schools to cease operations, Alma was faced with a new challenge.

Driven not to be defeated by the pandemic, Alma moved all her stock from the school to her home sari-sari store (a small convenience store) and started to adjust her sales opportunities.

With the loan capital she received from her most recent microloan, she purchased a freezer and extended her sari-sari store. The new freezer allowed her to add more frozen products that are very saleable in her area. Most people do not go to large supermarkets in fear of the virus, so Alma’s sari-sari store was the go-to place in her area. With the added income from the frozen products, she was able to start on her food vending as well.

Now that lockdown restrictions are lifting, she is able to go from house to house selling snacks and other food she prepared for the day. During this time, Alma has been able to adjust her small business and still make an income. Her next goal is to extend her home sari-sari store to have a place where people can sit and dine.

Alma shares that during the months where her business was not able to operate, she was able to draw on her saved income and still set aside repayments for her microloan. Because of the low interest rate of the program, Alma knew this was more than just a loan but rather an opportunity for her to pull herself out of poverty from people who believe in her and her family.

Help Filipino Families Break Away from the Cycle of Poverty

With your support of USD 385, we will be able to provide a vulnerable Filipino mom with a small business loan. Click on the links below to know more about the project, or to send through your support.

  

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END POVERTY | HONOR 1000 - MICRO FINANCE PHILIPPINES | PHILIPPINES

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