GARMENTS TO SUCCEED through PAGASA Philippines: by Vencent A. Abraham, Deputy Director
A Gemma Toledo Success Story San Mateo Rizal Branch
ASA Philippines Success Story
OPPORTUNITY IN WORK RETRENCHMENT Gemma Toledo is working as quality supervisor in one of the jeans and shirt manufacturing in the Philippines for a couple of years. Her husband also works with her in the same company as sewer and garments cutter. However, due to economic crisis their company where they work was affected and that time hundred and thousands of employees was cut or retrench from work.
Due to family responsibility to deliver and provide the needs of their children they have to earn income for a living. On the onset both husband and wife think deeply as to what to do and how they will move after work retrenchment to respond to their family needs either to work again or to engage to business. Their major consideration is their age and almost of the company will not accept them because they are already over age. Then, after considering all of the factors they have decided to engage into a small business and they have capitalized on their experience in garments industry. We have think million times as to what business to start but when both of us agree to engage into garments business, we are determine to succeed no matter what. Gemma Toledo statement.
In 2007 four years ago Gemma Toledo established her own garment business where they accept sub-contract from local branded clothes for cutting and sewing of garments. At the start she experienced difficulties in getting contract from big company but because of his networks and contact in the garments industry she was able to get some small contract for a start. I learn to negotiate, and deal with prospective customers and enter into contract to survive in the business she claims. And she start the business with four machine and she work in tandem with her husband and they have used theirÃ‚Â money which they received from their previous company as initial capitalization in the business.
One time when she was in need of money for additional capitalization because received a bulk contracts from different company she approached her neighbor to borrow money but her neighbor introduced to her the program of PAGASA Philippines in 2010. She was afraid to enter into formal lending since she don’t have any experienced to lend from formal lending company, loan sharks or Indian lenders. But she was encouraged by her group leader since she have a small home-based business. Then on July 30, 2010 she received her 1st loan in PAGASA Philippines amounting to Ph 7,000.00 (155 USD) and paid the loan amortization on a weekly basis. That time Gemma Toleda appreciated the service of the company for its fast release service, less documentation requirements and simple loan procedure. The money she received from the company was infused as additional capital in the business and she roll-it over to gain income.
After paying the entire loan amortization for the 1st loan cycle, she again availed the re-loan but with the new loan repayment system which is monthly repayment system. She really like the new loan repayment system I like the new system because I can fully use my money to gain even more income before I will pay the company, the new system is more beneficial to borrower like me, Gemma Toledo emphasize. Because of her loan received from the company she was able to buy additional cutting machine for garments.
Mrs. Gemma Toledo decided to stay in the company since this is the first company which she gave her trust to be of partner for growth and business success and in the coming years she plan to increase and expand her business through buying more machine for her garments business, machine like piping machine and four thread machine for t-shirt to get more contract and gain more income.
I am determined to succeed in the garments industry and I am confident that PAGASA Philippines will help me all the way Gemma Toledo declares.