Elisabeth - Our First Project

Elisabeth is a widow with 2 children. She earns $3 to $5 per day. She lives in a squatter area of town and needs to find a way to earn more money and watch her children at the same time.

This is the entrance to her home.

This is an email from Rodel (our microbanking representative) to me.

Our Micro Financing Applicant was Elisabeth, she is 34 years old widow with 2 kids, namely Rachel (11 years old) and Raymart (10 years old).
Residing in Tarlac. there is no street # because it was squatters area. She used to sell kalamay (baked rice) for a living, sometimes with her two kids helping her in carrying the basket, selling to areas by walk. They do this everyday, she said if they will stop for a day selling KALAMAY they would have no food to eat. This is the only way Elisabeth know to support her children.

By selling KALAMAY she earned P150 - 200/day with spending capital of P500 ($10.63). not enough to sustain her family. The average budget to sustain an individual range from P350 - 600/day. in the case of Elisabeth, there are categorized, the very poor people. She said, when shes out of budget in preparing her product she always turn to BOMBAY they called it here 5'6'(small capitalist) offering loan for 20% interest, no choice for her she said, and this loan will then be payable per day basis.

Steve, the thing i can see to help her earn at least average income of P350 - 400/day:

- If she can sell her product carrying by PEDICAB (Tricycle Bike) it would help get her KALAMAY to other market place. It would increase her sales by 80%
she would probably have P270 - 350/day, net income.

Estimated Micro Finance Capital of P2,750.00 ($58.50)

* 2nd hand Tricycle will cost P2,000.00 ($42.55)
* For her KALAMAY product P750.00 ($15.95)

I attached some pictures for evaluation. I've took these pictures when visit her in their residence.



Rodel