SUCCESS THROUGH SMOKE-FISH VENDING AND WITH THE HELP AND SUPPORT OF PAGASA PHILIPPINES: By Vencent A. Abraham, Deputy Director
Angelita Abesamis Story :San Mateo Rizal Branch PAGASA Philippines
ASAÃ‚Â Philippines Success Story
To earn money and make profit in business requires huge dedication, discipline and determination to succeed in business and in life as Mrs. Angelita Abesamis claim. Mrs. Abesamis a mother of three (3) kids 19, 10 and 9 years old. She married with Rogelio Batungbakal.
Mrs. Abesamis and her husband starts with a very small capitalization in business and they are engage into selling smoke fish in their area, one of the reason which motivate the family to ventures into business is family survival which will able them to support their daily family needs. But over the years of into business and dedication they are amaze that out of their business they were able to send their children to school, invest some home appliances and able to build their own house.
Currently, she is an active borrower of PAGASA Philippines in San Mateo Rizal branch and she is now into 5th loan cycle with loan of Ph 25,000.00 (245 USD), she is currently belong to Winnie the Pooh group availing our Small Business Loan product.
Mrs. Abesamis claimed that prior to her membership in PAGASA Philippines, she gets additional capitalization and loan from loan sharks (5-6) and Bombay’s (Indian lenders) with a very high interest rates. And when one of his customers introduces PAGASA Philippines to her she was interested since she was able to get some information with regards to the company and because of her interest she attended the group meeting to gained more information. When she was oriented with the company loan methodology and policies she was interested and awaken because PAGASA Philippines offers a very low interest rates as compare to loan sharks, Indian lenders and even other microfinance and aside from it the company’s simple loan system and procedures without any hesitation she availed the 1st loan last August 12, 2009 amounting to Ph 5,000.00 ( 111 USD) and the succeeding loan and gradually improve its business.
After more than a year of being borrower in PAGASA Philippines Angelita Abesamis observes that there are transformation in their family particularly because of the loan from the company they were able to pay their monthly amortization of their motorcycle used for smoke fish delivery, diversify into new business which is junk shop and send kids in private school. I am so thankful with Pagasa Philippines and I am forever grateful to the company because of their genuine heart to help us Mrs Abesamis said.
The family earn income out of selling smoke fish in the area and nearby town but because of their capitalization increase out of the loan from PAGASA Philippines they were now able to sell and distribute their product to other cities of Metro Manila through their more than twenty (20) vendors and even Mrs. Abesamis also sell their product house to house, she is not just totally dependent with its vendors. The family bough fish and process the fish through smoke machine but this is being sub-contract because the family don’t have available machine to process its product. That’s why in the future they intend to have their own machine to process their own product and dependent on the sub-contractor but this requires big capitalization. But she is determine it will happen in the future through the help of the company.
Mrs. Abesamis intend to stay in the program since she was able to realize that the loan policies and procedure of the company is indeed a pro-borrowers through its low interest rates, individual accountability, and very simple processes and don’t have plan to transfer to other microfinance institution or to loan again with loan sharks or Indian lenders. I am totally satisfied with the service of PAGASA Philippines it is really a certified global company but with the heart for the poor, I will be more successful in the future through smoke-fish vending and through the help and support of global company which is PAGASA Philippines she explained.
I am excited to avail the monthly repayment system because I know that it will be more advantageous and helpful to us, I have learned the new system to other group who are now into monthly repayment system hopefully we can be immediately included in the new system..she shared.
Through the family good values, positive attitude in life and their ability to sell processed and smoke fish they were determine to be out from the bondage of poverty and to become successful micro-entrepreneur that will also create impact in their community through helping other people.