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Tuesday, June 07, 2005
Oledan: Taking options
By Radzini Oledan
Spice of Life
DOING a detour, Mario soon became a consistent awardee as outstanding client of the Socio Economic and Enterprise Development (Seed) project, a non-centralized lending scheme of the Development of Peoples Foundation-Institute of Primary Health Care of the Davao Medical School Foundation.
By 2000, the Seed started its operation in Tugbok. Various orientation and trainings were conducted. It was during one of the orientation seminar that Cerdena was able to join the project.
He was offered hope of a loan that he did not have to worry about repayment rates.
By September 2000, his loan application of P3,000 was approved. He used the loan to open a sari-sari store. It was to be the start of a series of loans.
When he got another loan, he made improvement and expansion in his business. His paying performance to the Seed project was also outstanding.
The Seed project was conceptualized for the entrepreneurial poor of Davao City and New Corella, Davao del Norte and charges only three percent interest rate per month. This has become an alternative for the entrepreneurial poor who are almost always forced into the usurious 5/6 system, or 20 percent interest, of unscrupulous businessmen.
The affordable repayment scheme has not made him complacent and negligent. He ensured that he paid on schedule, never to miss out on one payment, fearing that it might be a precedent attitude.
In 2002, Mario Cerdena was awarded as Most Outstanding Client.
He said he was inspired to further make good on his business and during an assembly, Ms. Minda Puruganan, the administrator of the Development Peoples Foundation (DPF) announced that the project can lend up to P5 million without collateral to creditors who have established their trust and confidence.
His 6th loan from the Seed project enabled him to expand his business. He opened a mini grocery store where goods were sold at a wholesale price.
The big factor of his success could be attributed to his wife and two children. During the past years, the whole family was involved in the operation of the business and his children took turns during their free time to help out.
Walang day-off. We really take turn and make it a point to live a simple lifeno mall visits or purchases of material things, Cerdena said.
His wife, Amabella, was a prudent planner, tempered by years of budgeting whatever scarce income would come, during those years of difficulty. Behind Cerdena was the woman with a foresight for forging a solid future for their children, with the loaned money as their vehicle to build those structures of hope.
The children were alsso trained even in their early years to learn how to cook and make simple errands, such as going to the market and managing the store and household.
Later, children King David, 15, and Mary, 14, were to contribute their effort in the family business, tending to their sari-sari store during their free time without being told to do it.
Cerdena has often acknowledged the help of the IPHC to ordinary and struggling Filipino households like his, and expressed hope that more IPHCs would spring elsewhere to multiply the blessings.
These little blessings that we have attained would not have been possible with IPHCs Seed project, he said. We could start any business but with the available opportunity left to the usurers, who would expect small businesses to prosper, and soon.
To borrowers like him, Cerdena advised them never to miss their repayment. Its our gesture of gratitude and at the same time, to enable IPHC and other service organizations to extend services to more and more people.
The family's track record in handling business led to Cerdenas being elected as the president of the Federation of Center Chiefs, composed of several centers in Mintal where members helped out each other settle their own management problems.
In his 11th cycle loan, Cerdean was able to avail P100,000 which he used to purchase groceries and other saleable products like rice, corn, soft drinks, dried fish and thus increasing his daily sales at an average of P7,500.
Out of the income of his business, he renovated his house from a half concrete and amakan into a concrete two-storey house.
In his 15th loan availment, Cerdena availed P300,000 which he used to buy the adjacent house and lot and turned it into a carenderia.
Today, he provides employment to four individuals who help out in his grocery store. He also never misses to pay his loan every week, while building up a saving of about P90,000 without any withdrawal.
"It is the belief in myself and family which enables us to go on and pursue our dreams but it is more of our self discipline, loyalty, honesty and hard work which enable us to succeed in the business," Cerdena said. "Above all, it is making God as the center of our family and business."
For Bisaya stories from Davao. Click here. (June 7, 2005 issue)
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