Gelyn, 35 years old, married, and mother to her 6 year-old daughter, helps her husband sustain their family's needs through her businesses.
Before bearing a child, Gelyn used to work in a factory at the Export Processing Zone in Cavite. With motherhood, she decided to resign and set up her own business so she can personally attend to the needs of her daughter. For four years now, Gelyn has been cooking and selling fried chicken.
To start up her business and to address her business needs from time to time, Gelyn resorts to availing credit under usurious interest terms (20% interest for a 40-day loan term). While terms are difficult, Gelyn manages her debts by ensuring proper loan use for business and with the support of her husband who works as a cab driver. With diligence, Gelyn was also able to set up a small store in their residence.
In March 2014, Gelyn became a partner of SEED and availed a loan of PhP 5,000 which she used to buy stocks for her store. On her second loan term, she is planning to buy additional stocks of cooking oil, flour, and fresh chicken meat for her fried chicken business. With these, Gelyn hopes to increase the volume of her cooked products to cater the increase in demand following her transfer to a better stall location in a flea market near her residence.
SEED, founded in 2004, is a microfinance organization in the Philippines that operates in the metro Manila area.
In addition to loans, SEED provides saving services, business development classes and skills trainings. About 90% of SEED’s active borrowers are underprivileged poor living in depressed, urban areas.