Vicky, 54 years of age, lives with her husband and grandson in a relocation site after their house was demolished in Metro Manila.
Vicky's husband works as a construction worker but because of age has been receiving fewer job offers nowadays. With a grandson to support and to earn their keep in the relocation site, Vicky opened a small store in front of their house selling various items to include provisions, meat products, and scrap wood used for cooking.
In March, she attended an Orientation Seminar in SEED and was able to avail a loan of PhP 7,000 which she used to increase her stocks of provisions to include canned goods, laundry detergents and meat which are all in demand in the area. Having repaid the loan, Vicky applied for a second loan amounting to PhP 12,000 and was consequently approved.
With this new loan, Vicky plans to buy a freezer where she can keep longer shelf life fresh and frozen meat products that she can stock and sell in bigger volume. The increase in their family's income helps Vicky to send her grandson to school.
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.