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P3 cultivates sari-sari store for entrep Monaliza Y. Chavez Baler, Aurora Province With sheer effort and determination, one can reach the peak of their dreams. This was validated by Monaliza Chavez of Aurora Province after years of waiting for the right time for her small sari-sari store to blossom. For Monaliza, the expansion of her business was an unexpected turn of events. At first, her business was just a small variety store or best known in the country as sari-sari store. After discovering the Pondo sa Pagbabago at Pag-asenso (P3) Program through a constituent,who was fortunately a member of the St. Francis Development Cooperative. Monaliza quickly entertained the idea of availing the P3 program after a few seminars. “Nalaman ko po ang tungkol sa P3 kay [Mrs. Esteban], miyembro po siya ng Board of Directors ng Saint Francis Development Cooperative. Kinausap po niya ang may mga tindahan dito sa lugar namin tungkol sa pagbibigay ng tulong puhunan ng St. Francis galing sa P3,” Monaliza said. Before P3, Monaliza said she usually borrows money from other sources with high interest. With P3, the only difference is, according to her is that the money she borrows has lower interest rate, less requirements, and most especially the money will be released fast. “Ang pagkakaiba po ng loan sa P3 sa ibang pautangan ay ang P3 po mas mababa ang nagiging interest ng perang aking hiniram. Mas konti rin po ang mga papel na kinakailangan naming ipasa upang makautang at mas madali po ang proseso nito,” she explained. “Una po, mayroon orientation tapos pinag fill-up ng application. Ang kagandahan po sa SFDC ay hindi po nila pinapaasa ang mga aplikante. Kung hindi po papasa sa kanila ang mga negosyo ng aplikante ay sasabihin na po nila agad at hindi na maaabala pa ang aplikante. Noong nakatapos naman na po ako ng aking unang loan cycle ay mas lalong napaka bilis na ng aking pagre-renew,” she added. After availing P30,000, Monaliza said she added items to her variety store such as frozen products, and a small “Flea Market,” where she can sell meat, fish, and vegetables. “Ang unang loan ko pong na-avail sa P3 ay P30, 000.00 at ginawa ko po itong

pandagdag puhunan sa aking sari-sari store, nagdagdag po ako ng frozen products pati yong talipapa po sa aking tindahan,” she said. Now on her third cycle of loan, Monaliza said she is now currently expanding her sari-sari store that can house her flea market and various school supplies.

“Napalago ko ang aking negosyo ng dahil sa P3, ang pangatlong cycle ko po sa P3, itong kasalukuyan ay ginamit ko sa pagpapagawa ng expansion ng aking tindahan para magka “space” po ako para sa school supplies na idadagdag ko sa tinda ko,” she said. Monaliza added that the P3 program changed her family's way of life and it helped her lift her family from poverty. “Dahil po sa P3 napagaan po ang pamumuhay namin, mas magaan po ang pagbabayad sa P3 dahil sa mababang interest nito,” Monaliza said. As for her advice to other micro entrepreneurs who would want to apply for P3: “Ang maipapayo ko po sa mga katulad kong may maliit na negosyo ay kung magloloan sila dapat nilang ilaan ang perang kanilang niloan sa kanilang negosyo, para hindi sila mahirapan sa pagbabayad nito.”

3 gives hope to small watch repairshop owner Ermida S. Paet Nueva Ecija Never a day passes by that Ermida Paet thought of making it big in business. With a small watch repair shop, her small domicile - as big as a regular refrigirator, she always dreamt of making big earnings for a day. Ermida operates her watch repair shop along Burgos Supermarket in Cabanatuan City. One may just pass by her watch repair shop that it would seem unnoticeable but Ermida confesses that she has so many clients despite her stall being small. Adding to her hope is news of the Pondo sa Pagbabago at Pag-asenso's cause to help micro entrepreneurs like Emida. 1. “Nalaman ko po sa kaibigan ko yung tunkol sa P3. Pero dati po

akong umuutang sa 5-6 para sa mga materyales para makagawa ng mga relo,” she said.

Ermida applied for P3 by starting at P10,000 to add to her capital. She said that the process was quick and there were less requirements. “Mabilis naman po siya maprocess at maganda din yung interest na binigay nila mas mababa po kesa sa 5-6,” she said, adding that the 5-6 scheme of lending adds misery to her business because of the high interest she has to pay. She also borrowed another P20,000 after completing the payment for the P10,000 she borrowed initially. She said that the loans she received inspired her to do better. “Nakatulong po siya dahil po nakabili po ako ng mga materyales kaya po pag may nag-papagawa ng relo po sakin nagagawa ko po agad, dahil po may pamalit po ako materyales at ngayon po kahit papano po may na iipon na din po ako dahil kahit papano po lumaki din po ang kita ko dahil nakapamili po ako ng mga materyales,” she explained. Ermida explained that if not for the loans she received from the P3 program, she would not have bought additional supplies for her repair shop. She added that her friends are also asking her about the P3 program. “Kung hindi po ako naka loan sa P3 hindi ako makakabili ng mga materyales na gamit ko sa watch repair sobrang nakatulong po sakin yung P3, marami po lumalapit sakin na kaibigan ko na gusto po mag-avail ng P3 sabi ko po sakinila sukan po nila ang P3 kase po maganada po ang programang P3 talaga pong nkakatulong sa katulad kong nag-

nenegosyo,” Ermida said.

P3 borrower: Manage finances well, earn more Rebecca Pascual Sapang, Jaen, Nueva Ecija Managing finances for some may be a tedious part or aspect of the business, but Rebecca Pascual believes that by following a rule, it will help in managing the business. Rebecca started her quail farm back in 2015. With the help of his Overseas Filipino Worker (OFW) husband, she started raising 3,000 quail chicks at her backyard. Long after, she did not notice that her farm not enough to house 5,000 quail chicks. But her husband kept on supporting her and her business. Rebecca thought of other means that will finance her business and expand her quail farm. “Nagsimula lang po ako nung una sa paunti unti una po 3000 heads lang po ng pugo tapos po naging 5000 heads po hangang sa dumami po ng dumami,” Rebecca said. Just four months ago, Rebecca was offered by a local cooperative called Allies Credit Cooperative of the Pondo sa Pagbabago at Pag-asenso Program of the government. Despite being wary because the program was unheard of, Rebecca obliged and availed the program. And the program did not disappoint, Rebecca was able to avail a P100,000 loan in just a day. She immediately used the money for her quail farm and added more quail chicks to her farm. According to her, it was a huge lift to her business since she availed the program four months ago. “Nakatulong po dahil pinambili ko po ng bagong sisiw at feeds na pangpakain sa mga pugo at medyo lumaki na din po yung puguan ko,” Rebecca said. Rebecca recalled how her business worked. She explained that she was just earning much, sufficient enough ot sustain her business and add some heads to the farm. But with the loan she got from P3, she said that her previous earnings were exceeded today. “Dati po sapat lang po ang kita ko dahil din po sa nadagdagan yung alaga kong pugo nadagdagan din po yung yung kinikita ko lumaki po kumpara po nung dati,” she said, adding that her production also increased while she employed three workers to help her in the business 1. “Tumaas din po ang produksyon ko dahil po nagdagdag ako ng mga alaga. Nagdagdag

po ako ng tatlong manggagawa.” In the three years that she managed her business, Rebecca learned a lot, especially valuable lessons such as managing finances and facing every fear of an entrepreneur.

“Ang mahalagang aral na natutunan ko sa aking negosyo ay kailangan pagbutihin ang paghahawak ng pera, pagbutihin ang paghahandle ng negosyo, at kailangan din may itatabi ka para po kung kailangan magdagdag at magpalit ng mga alaga may mapgkukunan ka, huwag po kayo matakot na sumubok,” Rebecca said. 1.

After first unsuccessful bid, entrep not giving up on business

Harold James Gonzales Brgy. Sabang, Baler, Aurora They say that there is a light that never goes out. It was indeed a testament for Harold James Gonzales. After a first unsuccessful bid in his fried chicken stall business, Harold was left in despair, thinking of what he did wrong for his business not to pan out as he had expected. But the ordeal he experienced did not stop him from thinking of other means to earn money for himself and his family. Then he though of trading gadgets and cosmetics, which he himself sells when he was just starting the business. “Nagsimula po ako sa trading ng Gadgets at Cosmetic products matapos malugi ang aking Fried Chicken stall business. Kailangan ko pong umisip ng bagong negosyo para matustusan ang pangangailangan ng aking pamilya. Nagsimula po ako na ako lamang ang nagdedeal ng aking mga produkto,” Harold, a native of Brgy. Sabang, Baler, Aurora, recalled. It was in October 2017 that he started selling gadgets and cosmetics with an initial capital of P5,000. Harold said that to sell products he would walk few kilometers – alone – to sell his products. Harold back then turns to an Indian National who lends “5-6” scheme, who earns additional 20% from the initial capital borrowed. According to him, paying the borrowed money was hard, hence, life became harder for Harold and his family. “Sa Indian National po ako nakahiram ng pandagdag puhunan, pero dahil sa taas ng interest na ipinapataw at sa sistema ng pagbabayad ay lalo pong napahirap ang aking pamumuhay,” he explained. But it seemed that light flash before Harold's eyes after he saw an advertisement of television of the Pondo sa Pagbabago at Pag-asenso (P3) of the government. He recounted that he visited the nearest Department of Trade and Industry (DTI) to inquire about the program. In turn, he was referred to accredited micro financing institutions where he can avail the program. Despite waiting for a month due to background checking for P3 applicants, Harold was enthused about the prospect of him earning more with the help of the micro lending program.

Harold was approved to borrow P50,000 as an initial capital. He used the money to buy additional cosmetic products, and gadgets such as speakers, flash drives, memory cards, telescope, among others. Harold said he was grateful that the P3 program was intended to assist micro entrepreneurs. “Ang halagang nahiram ko po sa AMC sa ilalim ng P3 program ay tumulong sa akin upang magkaroon ng panibagong pag asa sa pagnenegosyo. Napakalaki ng naitulong nito sa aming pamumuhay,” he said. Though he cannot recall exactly how much extra he was earning after availing P3, Harold said life was much better for his family because he was earning extra. “Hindi ko po makwenta ng detalyado pero simula po ng sa P3 program ako humiram ng pandagdag puhunan ay naramdaman po naman namin ng aking pamilya na mas naging maluwag ang aming pamumuhay. Dahil narin po sa baba ng interest na ipinapataw sa mga humihiram ay mas nagagamit po namin ng maayos ang aming kinikita sa negosyo,” he said. Not only did his earnings increased, but also his production. He said that he can now offer a wide array of products to his clients. Likewise, he hired five agents under his team, who resells the products. “Mas marami na rin po ang produktong aking inooffer kumpara noong akong nagsisimula pa lamang. Sa kasalukuyan po ay mayroon na akong limang (5) agents. Sila po ang mga reseller ko,” he said. More importantly, Harold said that he learned lessons during the hardships that he faced as an entrepreneur – saving money. “Ang maibibigay ko pong payo sa mga maliliit na nagnenegosyo ay una po, matuto tayong mag impok dahil ang negosyo po ay hindi laging nasa magandang estado. Kung tayo po ay may impok, mayroon po tayong magagamit sa panahong hindi nagiging maganda ang takbo ng negosyo,” he said.

Ilocos Sur sari-sari store entrep looks beyond future

Marilyn Jorquio Los-ud, Sta. Cruz, Ilocos Sur Business offers us a lot of oppurtunities especially if an entrepreneur mixes it with hardwork and dedication. Such was the case of Marilyn Jorquio of Los-ud, Sta. Cruz, Ilocos Sur. Marilyn is an owner of a typical various store which you can see in every streets and alleys of the country. But her store offers a unique sideline – a karaoke rental and retailing of brand new karaoke machines. As a matter of fact, it is not only managed by Marilyn but her whole family. Even before, Marilyn borrows money from a lending company, offering her a fundline for five years. Alluring as it is, the fundline offered by the lending company still imposes a 3% to 5% monthly interest. Not bad at all. But according to Marilyn, it still adds to the burden of her business, which is why when she caught wind of the Pondo sa Pagbabago at Pag-asenso (P3) Program, she joined the Sta. Cruz Savings and Development Cooperative's seminar and training on how to avail of the micro loan program. Marilyn explained that the fundline offered by the lending company is way much higher as compared to the interest offered by P3. “The interest with fundline is more expensive or higher. They are charging 3% to 5% interest per month while loan with SACDECO has lesser interest plus they have health insurance and less requirements,” she said. She was granted a P100,000 initial funding for her business, which she made use by buying additional merchandise for her store, brand new karaoke sets to be sold in their area. Marilyn humbly stated that they have already sold seven sets of karaoke after they have bought the items. Aside from her sari-sari store business expansion, Marilyn said they were able to increase their inventory of karaoke units with the help of the P3 program. Now they are also engaged in buy-and-sell of karaoke. Recognizing the huge importance of limiting expenses and saving money, Marilyn said that it also pays for an entrepreneur to make sure that all obligations are paid on time.

First time loan borrower not disappointed by P3 Alfredo Senin, Jr. Brgy. Tablac, Candon City, Ilocos Sur Alfredo Senin Jr. started his business well. He did not experience hiccups nor did he experience bumps along the way while managing his business. Never did he attempted to borrow from lenders as a source for additional capital, Alfredo claimed. But when he learned about the Pondo sa Pagbabago at Pag-asenso (P3) Program through his relative, his mindset drastically changed about the government's loan program for micro entrepreneurs. What he though then was the program is similar to other lending companies' lending scheme. But after he was briefed about the program, Alfredo's perception changed and applied for a loan at the Sacred Heart Savings Cooperative in Candon City, Ilocos Sur. “Ever since I started the business I haven't experience borrowing money to other creditors,” Alfredo said. “That's why I could not personally tell the difference between other creditors however, per stories of other business owners and individuals some creditors charge high interest rate and they don't care even if the debtor goes bankrupt,” he added. According to Alfredo, he was able to avail P100,000 for additional supplies for his roasting pig business and other grocery items for his variety store. He claimed that with the helped of P3, his income increased. “Through P3, I was able to buy other products such as grocery items for our sari-sari store, we are now selling BBQ, and also increased the number of lechon [roasted pig] we sell everyday. Thus, we are earning more income,” he said. Alfredo said that he will continue to avail P3 to expand his business after he was proven wrong of his perception. He added that the money borrowed for business should be used for the sole purpose of the business and nothing else.

“For me if you apply for business loan, we have to use that money for the business, its should not be use for personal or other purposes,” he said.

P3 eases pain after years of borrowing from 5-6 loan scheme Mercedita Rasay Bulacan Mercedita Rasay has been a regular customer of loan sharks. She did not mind that she borrows P5,000 with a P1,000 interest after a month – worse, she experienced borrowing P1,000 and it bore P100 interest in just a day. Easy money. Mercedita has a small stall, selling fresh fruits, vegetables, condiments, among others. She did not mind, though hurting, for it was her steady source of capital after all. This quickly changed after learning of the Pondo sa Pagbabago at Pag-asenso (P3) Program of the government. Mercedita recalled that she was just watching television and reports appear that the P3 program was launched. It ticked her curiosity. “Nangungutang ako noon sa 5-6. Napakataas ng interes, kasi sa limang libo ang tubo sa 60 days ay isang libo agad. Minsan kasi pag kailangang kailangan na kakapit ka na sa patilim. Mayroon din akong inuutangan noon na sa isang libo ay isang daan sa isang araw ang tubo. Kaya nga gipit ka na lalo ka pang ginigipit,” Mercedita recalled of her regular ordeal. Being a member of the Ligas Kooperatiba ng Bayan sa Pagpapaunlad in Bulacan for over a decade, Mercedita tried to inquire if the cooperative already have the P3 program. Luckily, the cooperative was a P3 partner. Elated, she quickly made use of the money she loaned from the cooperative and used it for additional supplies of her small stall. “Ang nai-loan ko ay 14,000.00, naka-base kasi ang halaga na pwede kong mai-loan sa aking share capital. Ginamit ko ang aking inutang sa pandagdag ng paninda, mga gulay, prutas at lutong ulam at iba pang laman ng aking tindahan,” she said. From then on, Mercedita felt relief that she now earns extra money for her family – not having to pay for interest.

As to her advice to small entrepreneurs, Mercedita stressed: “Piliting magtabi at makaipon araw-araw para maka-ipon at madagdagan ang puhunan. At iwasan na mangutang sa mga 5-6 kasi napaka-laki ng interes at lalo lang kayong gigipitin.”

P3 grant to rice trader, sari-sari store owner reaps benefits

Amable Dela Cruz and Gertrudez “Tuding” Gonzaga Bulacan Amable Dela Cruz and Gertrudez “Tuding” Gonzaga are members of the Catholic Servants of Christ Community Multipurpose Cooperative (CASECHCOM) and both are engaged in business for quite some time. Back in 1997, Dela Cruz started buying paddy rice, which he in turn, sells to customers. This is where Dela Cruz met his acquiantance and eventual friend, a Chinese national, in Binondo, Manila, from whom he would borrow money to augment his capital for his rice business. “Doon ko siya nakilala sa Binondo, Maynila, dahil pareho kami ng business naging magkaibigan kami. Siya mismo ang nagpahiram sa akin ng pandagdag na puhunan pambili ng palay at pagpapakiskis nito,” Dela Cruz recalls. He said that his friend charged him 1.25% interest every time he borrows money. For the last 15 years, this has been the case for Dela Cruz. Until the Pondo sa Pagbabago at Pag-asenso (P3), a program intended to battle 5-6 scheme of lending and provide affordable loans to micro entrepreneurs at a reasonable cost, was launched by the national government in 2016. Word spread of the program, and CASECHCOM, where Dela Cruz is a member, introduced the program to its members. Things took turn for the better for Dela Cruz since then. After CASECHCOM was approved as a micro-financing institution by the Small Business Corporation (SB Corp.), Dela Cruz thought it would be better for him to try and borrow money from the program. “Madali lang 10 days lang [approved na] kasi lahat naman ng requirements at mga papeles na kailangan ay naibigay ko agad. Nung hinanapan nila ako ng track record ng business ko tulad ng mga resibo naipakita ko naman,” he said of his loan application with CASECHCOM. It paid immediate dividends to Dela Cruz's business, as his P100,000 loan was granted, which he used to buy seven tons of rice paddies or an equivalent of three elf trucks. According to Dela Cruz, rice paddies that can fill an elf truck costs P161,000.

Dela Cruz said that with the P3 loan that he received, he only needs to shell out additional cost but only at a minimum to achieve the three elf truck requirement. With the P3 loan, he earns more from the usual. “Dahil sa P3 loan ko kaunti na lamang ang ipampupuno ko sa kakulangan. At mas nadagdagan pa ang aking puhunan at kita,” he said. “Malaking tulong sa akin dahil yung kakulangan sa kapital ko natugunan ng P3 sa maikling proseso at araw lang. At yung sinabing tubo na 2.5% ay kaya namang kitain,” he added. Side business Similarly, such was the case with Aling Tuding. For years, Aling Tuding has been content with her business – a sari-sari store. However, upon learning of the micro lending program, she never thought that she would have the chance to expand her business. “Ginamit ko ang salapi para lang talaga sa pagpapaunlad ng aking tindahan dahil gusto ko talaga ang pagtitinda, mahal ko ito,” Aling Tuding said of the P50,000 loan she borrowed from CASECHOM. Application was very fast, according to Aling Tuding. She recalls that it only took her a week to get the amount she borrowed. From then, she quickly used the money to buy additional stock for her sari-sari store. “Ang na-approve na loan sa’kin ay Php 50,000.00. Ginamit ko ang perang inutang ko sa pagbili ng dagdag na paninda,” she said, adding that she used the surplus money to cook dishes which she sells in front of her sari-store. Asked about her experience as a micro entrepreneur, Aling Tuding said: “Sa pagnenegosyo hindi dapat ginagastos ang puhunan, yung kita lang dapat at konting ipon para mapaikot ng maayos ang puhunan.”

Thanks to P3, more entreps joining coops in Pampanga Analyn P. Dumas Province: Pampanga For micro enterpreneurs, to augment their production, they rely heavily on informal lenders or 5-6 lenders, to at least get by due to fast delivery of money. In just a day, an entrepreneur borrower can get a hold of their loans in just a day with the lender just taking note of how much and what day the money was borrowed. However, much of these cases aren't viable because most entrepreneurs will be dug deeper with debt because they can't pay in time or the lender would put additional percentage to the money loaned. Everyday seemed like an ordinary day for Analyn Dumas, a micro entrepreneur who is also a frequent customer of informal lenders. Analyn is a member of the 5K Multipurpose Cooperative in a small barangay in Porac, Pampanga. Her case was similar to other micro entrepreurs. Analyn's only dream was for her business to expand and enable her to provide to her family. She owns a made to order Masa, peanut tarts, brownies, and roasts pork, chicken, and duck. The business just allows her to provide for her family's daily needs. With the Pondo sa Pagbabago at Pag-asenso (P3) Program introduced by the cooperative, Analyn was given a chance to expand her business. “Sa cooperative lang ako lumalapit dati dahil mababa lang mga interest nila at may mga dividends pa. Lalong lalo na sa 5K MPC, madaling magpamember dun para makapagloan,” Analyn recalled. Analyn was able to borrow P20,000 for her business' initial expansion, allowing her to buy additional products. As if a blessing, Analyn said the P3 loan she received enabled her to expand her business. “Malaking tulong po sa akin ang P3 dahil sa mababang interest. Nakatulong siya to expand by business,” she said. Now that she intends to borrow additional capital, Analyn doubles down in

managing her business for her family. With news of P3's low interest quickly spread like wildfire, Analyn's family and friends enrolled in the cooperative to also avail of the program. “Nagpapasalamat po kami sa programang ito [P3] dahil malaking tulong ito sa amin lalo na sa pamilya ko at ibang kamag anak nagpamember din po sila at hanggang ngayon nagpaparenew pa po kami. Maraming Salamat po sana maging permanente na itong programang ito,” she said.

P3 pays dividends for sari-sari store owner Loida Domingo Province: Nueva Ecija For Loida Domingo borrowing money from an informal lender to aid her business wasn't anything usual. The only thing unusual she finds is that the whenever she borrows money, the lender would insist on adding an item that should be paid by the borrower. That has long been the practice and she couldn't reject the offer. Understandably, she would succumb to pressure from the lender since it's the only source of her financing for her business. However, instead of doubling her income, it became a liability to her because she has to pay for the money she borrowed and the item that was basically “sold” to her. “Kasi sa 5-6 [informal lender] pag nagpahiram sila ng pera my kasama pang item na kailangan mo kunin at bayaran pero dito sa Pondo sa Pagbabago at Pag-asenso nakakahiram ako ng pera na pandagdag sa puhunan ko,” Loida explained. The Pondo sa Pagbabago at Pag-asenso or P3 Program was a great relief for Loida because it enabled her to buy additional supplies for her sari-sari store business. In comparison to P3, which only has a 2.5% monthly interest, informal lenders impose a whopping 20% interest to hapless micro entrepreneurs. Even the duration of process and approval surprised her. “Mabilis ang process nila magaan lang po yung mga document na hinihingi nila, nag-apply po ako ngayon araw kinabukasan po na approve na po ang loan ko,” she said. Taking risks, Loida immediately borrowed P50,000 from P3 accredited conduit Allies Credit Cooperative in Cabanatuan City for additional capital for her business. She then proceeded to buy suppliers for her variety store. The difference was evident. Loida noticed that customers kept pouring at her store after more supplies and choices can be bought from her store. “Dumami po yung mamimili dahil po na dagdagan yung produkto na tinitinda ko kaya po nadagdagan din po ang kita ko,” she explained. As for her advise to her fellow micro enterpreneurs, Loida pointed out that one should have the mindset of an entrepreneur, which is a “risk taker.”

“Sa ka tulad kong nag-nenegosyo huwag po kayo matakot na sumubok na mangutang basta po magbayad lang po kayo makaktulong po ito sa negosyo niyo,” she said. Taking risks definitely pay dividends for your business – ask Loida Domingo.

Food business for entrep doubles income with P3 Elaine's Delicacies Ugac Norte, Tuguegarao City Conchita Simangan's daughter is a food junkie. One can simply tell after she named her food business after her daughter, Elaine. In 2005, Conchita started her food business by cooking various delicacies such as leche flan, pizza rolls, and sticky rice, which she and her daughter sell to friends and her daughter's classmates at school. Word immediately spread in Ugac Norte, Tuguegarao City about the delicious meals being made by Conchita. “The business started by cooking the delicacies then being sold by my daughter in their school, that is way back 2005. It was then marketed by word of mouth until I started to receive regular orders,” she recalled. However, Conchita's ordreal was similar to other entrepreneurs—she frequently borrows money to informal lenders at an average of P10,000. Until she learned of the Pondo sa Pagbabago at Pag-asenso. Immediately, Conchita borrowed P30,000 through a micro financing institute to augment her supplies. Now armed with additional supplies and more patrons asking for additional orders, she immediately doubled her production and accommodated bulk orders. Though enough for her business, Conchita was especially grateful that with additional capital and production, it enabled her to double her earnings from P10,000 to P20,000 a month. “Before, I used to earn 10,000.00 per month, now I'm close to earning 20,000.00 per month,” she said. For Conchita, nothing comes easy but as long as you put in your passion and commitment, it will pay off especially in business. “In any business venture that you go into, it is important to develop hardwork because it is never easy. Go into business where you can apply your skills and that you are passionate to do,” she said. “I encourage other microenterprises to try borrowing additional capital through the P3 program and experience lower interest rates,” she added.

From small to bigger rolling store Editha Mariano Caritan Sur, Tuguegarao City The rolling cart of Editha Mariano hardly had anything but vegetables and Yakult drink and she thought that this would be the case for her business for a time – until the Pondo sa Pagbabago at Pag-asenso (P3) program of the government came. “Dati halos gulay lang ang laman ng cart ko, at yung Yakult,” Editha recalled. The Pondo sa Pagbabago at Pag-asenso (P3) program definitely helped Editha add some suppliers for her small business. The P3 program is a government initiative to provide affordable loans for micro entrepreneurs such as sari-sari store owners who are usual prey to 5-6 loan sharks. “Dahil sa additional capital, marami na akong nabili na paninda, may pang-meryenda na rin,” she said. Editha said she was also a usual customer of the 5-6 loan scheme since there are no other alternative mode of loans in their area. Usually, 5-6 loan schemers put a 20% interest on the loan granted to the borrower. On the other hand, P3 offers an affordable 2.5% interest rate every month. Way lower than the 20% of the 5-6 scheme. The cart-owner said paying the P5,000 that she borrowed is easier and affordable since she was given a 6-month term to pay. P3 was a huge relief for Editha. With less interest to pay, she was able to save money from her daily earnings, enabling her to provide additional food on her family's table and allowance for her children. Editha said that she can be seen on the streets selling her goods, as if fulfilled with content but determined for her family. “Ang pagiging vendor ay hindi madali ngunit kailangan ng tiyaga at determinasyon para maitawid ang pang araw-araw ng gastusin,” she said. “Mahalaga din ang pakikipagkapwa-tao dapat maging maayos ang pakikitungo

sa customer para bibili ulit sayo,” she added. Editha expressed her gratitude to the program and also encouraged small enterpreneurs to avail of the P3 program and shun the 5-6 scheme of loans. “Sana lahat ng maliliit na vendors tulad ko ay matulungan ng P3. Ine-encourage ko sila na subukan ang programang ito,” she said.

Vegetable dealer heaps praises on P3 Susan Colegado Bukidnon With a small stall at a public market in Salawagan, Quezon in Bukidnon, Susan Colegado on a usual day sells vegetables and condiments, hoping to get the day by and earn as much as she can. In an unexpected turn of events, Susan suddenly had to manage two stalls in the same wet market after applying for the Pondo sa Pagbabago at Pag-asenso (P3) of the government. But this is not a bad problem for Susan, it actually is, a good problem, considering that after she received the P50,000 loan from P3, she immediately extra hard to expand her business – the main objective of the P3 program. Not only did her business expand, her usual earnings increased. “[After ko matanggap yung P3 loan], nagkaroon ako ng isa pang pwesto sa palengke. So medyo lumaki yung income ko,” she said. Susan was a willing victim of the 5-6 lending scheme, an informal scheme of lending that adds burden to the borrower, in this case, the micro entrepreneur, by adding 20% interest on the borrowed money. Just the same, Susan nevertheless borrows money from informal lenders to increase her production and income. However, her hopes of achieving this is far-fetched. Luckily for Susan, their community has the Quezon Community Multi-purpose Cooperative as conduit for the P3 program and extend a helping hand for struggling microenterprises who fall prey to informal lending. The Quezon Community MPC quickly got the word out and Susan was there. “Mas magaan yung loan ko na nakuha sa Queco MPC. Maliit yung binabayaran kong [interes] kumpara sa ibang [pautangan],” she said, adding that she only attended the orientation of the cooperative and was immediately granted of the loan. Utilizing the money she borrowed and a second cycle of loan coming for Susan, the vegetable vendor hopes that she can expand her business even more.

“Hindi na kailangan pumunta sa Bumbay [sic]. Pwede namang magpa-member sa cooperative tapos pwede ka nang umutang doon ng mura lang,” she said.

P3 fosters growth for entreps Gimelyn Carbon & Patrose Donio & Patrose Donio Bukidnon While keeping and sustaining a business is a daunting task, many entrepreneurs find some circumstances as challenges that needed to be hurdled, thus they find solutions to keep up and keep the business afloat. Keeping herself abreast of all updates and news, Gimelyn Carbon took notice of the Pondo sa Pagbabago at Pag-asenso or P3 program of the government. Thinking that it would help her business, Gimelyn attended a briefing regarding the program and applied as a member of the Bukidnon Pharmaceutical Multipurpose Cooperative in Valencia City, Bukidnon. “Um-attend lang ako ng briefing at nagvolunteer na sumali bilang member ng cooperative. Matapos nun nagpresent ako ng ID at valid business permit pagkatapos pinautang na,” Gimelyn recalled how she was able to avail P3. “Ganon kasimple,” she added. Gimelyn admits that she regularly borrows money from informal lenders for her business but it seems that the money she earns goes to the payment for the loan. The P50,000 P3 loan she borrowed went to her bakery's store expansion and additional production of her supplies. Gimelyn was not disappointed. After borrowing money from P3, her earnings increased and she decided to open another bakery store. On the other hand, she is now in the process her second cycle of loan worth P150,000. Quicker loans Meanwhile, fellow Bukidnon Pharmaceutical Multipurpose Cooperative member and vegetable vendor Patrose Donio was encouraged when she caught wind of the P3 and availing it in the fastest manner possible. Though the informal lenders may be quicker in granting loans to borrowers, it leaves borrowers wary of how they will spend the money so as not to squander it. Patrose operates a vegetable stall at the Valencia City Public Market. Staple in

her store are carrots, garlic, potatoes, onions, among other things. Readily available for her was the P100,000 she loaned under the P3 program for her vegetable store's replenishment of stocks. “Nadagdagan paninda ko sa tulong ng P3. Medyo naka-discount sa paninda kaya malaki-laki ang tubo,” Patrose said. Patrose never thought that she'd be able to expand her business. Nonetheless, Patrose was grateful for the P3 program. “Mayroon palang pautang ang gobyerno na hindi mahal at madaling makuha basta may tamang negosyo ka lang,” she said. For Gimelyn and Patrose, it's only a matter of knowing what is needed for the business for it to be successful.

P3 lifts market vendor, after years of struggle; Hardware store owner takes

home larger earnings for family Lanie S. Solis & Maggie Megdan Butuan City Lanie Solis has been operating her vegetable stall business for 33 years and it seemed she went through all the hardships an entrepreneur can experience. For a businesswoman who has worked tirelessly for three decades, it so seemed that one's business would have been already huge. Lanie, however, still languished and remained a small market vendor despite many years operating her business. Lanie was a pioneer or one of the institutions in Langihan Public Market in Butuan City. “[I] started in 1985 with an initial capital of P3,000. I started when there was still no official public market in Langihan, Butuan City,” Lanie recalled how she started her business. To support her vegetable stall, Lanie turns to informal lenders or locally known as Turko, who operate 5-6 scheme of lending. She started borrowing P10,000. But after quite some time, it appears that her earnings from a day's work go to payments intended to the Turko. Lanie is left with little income after payments. It seemed that this pattern will continue throughout her years as a market vendor. It so seemed until the Pondo sa Pagbabago at Pag-asenso (P3) by the national government came – a glimmer of hope for Lanie and other micro entrepreneurs in the country. “I learned of the P3 program through television and radio advertisements and a friend. I started borrowing money in 2017 as high as P50,000,” Lanie said. Lanie said that she used the money she borrowed from P3 partner conduit BAUG Multi-purpose Cooperative as additional capital for her business. She claimed that the P3 program allowed her and micro enterpreneurs to access affordable and low-interest loans as compared to the loans offered by Turkos or 5-6 lenders, whose interest on the loans can reach as high as 20%. According to Lanie, her daily sales reach P15,000 and her net income increases with the

help of the P3 program. Likewise, her merchandise inventory also increased out of the excess net income gain from lower interest rate. Lanie is truly grateful of the P3 program and encourages micro enterpreneurs to do the same. “Look for financing which offers lower interest rate since Turko/Bumbay consumed your supposedly net income,” she said. “For those who are operating their business without permits and business name, they should get necessary business permit which is needed to apply for P3. Aside from that, I encourage small businessmen to apply for P3 program from BAUG MPC,” she added. Hardware store In a similar manner, Maggie Megdan heavily relies on Turkos to augment her hardware store and paint center. Started in 2003, Maggie erected her business with an initial P50,000. Two years after, she applied as a member of the BAUG MPC. Unlike Lanie who only borrowed P10,000 from the local Turko, Maggie borrowed a larger amount of P70,000, which means there will be higher interest to be imposed on her loan. With P3, Maggie expanded her business, using the P60,000 she borrowed from BAUG MPC as an additional capital for supplies. But one striking contrast from the P3 program and Turko, according to Maggie, is that she is able to come home with a larger net income. Comparatively, Turko lending has left Maggie with little net income. Due to the lower interest rate imposed by the P3 program, Maggie's merchandise inventory increased. For Maggie, hope springs enternal as long as you trust in yourself and your business. She also advised micro entrepreneurs to pay obligations and debts to enable to renew your loan or additional loan and so as not to put yourself at greater risk. “Look for financing that offers lower interest rate since Turko/Bumbay consumes your supposedly net income,” she added.