efrenEfren is a farmer living at Solana with his wife and children. He plants and harvests rice to sell to traders and has been in business for over 10 years.

He usually earns about P20,000 twice a year, during harvest season. He used the money to pay school expenses and to meet his family’s daily needs. Efren also saves some income to plant his next crop. Efren really works hard on his farmland and this ensures a healthy harvest in order to gain more profits.

Efren wanted to keep increasing his yield and that is why he is seeking to borrow additional capital in the amount of P40,000. He will buy fertilizers, insecticides and pesticides. It will help nourish his crops.

With a good harvest, Efren will attain income stability and achieve business progression in the future.

In January 2013, Elon Microfinance Initiative made a $75 loan to help Efren improve his harvests.

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