HELENA COQUILLA: Rice Sales Inspires Growth
For Helena Coquilla, the notion “expands when it cooks” could just as easily be applied to the business of selling rice as it is to the actual grain. Since Mrs. Coquilla and her husband, Antonio, received a loan to improve their sales of rice two years ago, their business has grown exponentially. It seems that the more they cook, the more their business grows.
Mrs. Coquilla has sold pusô, rice cooked and served in woven baskets of coconut leaves, wholesale to food vendors in her town of Cantilan, Surigao del Sur, since 1982. However, it wasn’t until two years ago when she and her husband received a loan specially developed by the Rural Bank of Cantilan, Inc. (RBCI) under the Microenterprise Access to Banking Services (MABS) Program.
Funds from the KITA loan program of RBCI initially helped the Coquillas purchase rice in bulk and increase their sales. Today, additional funds and the success of their pusô sales help the Coquillas diversify their business. The Coquillas have moved from relying on pusô as their only source of income to a more diverse assortment of sales products.
Just recently Mrs. Coquilla opened a small restaurant beside her home. With the help of her husband and family she prepares meals three times a day for local tricycle operators who do not have time to cook for themselves. For a flat fee per week, Mrs. Coquilla serves her clients vegetables, rice, fish and meat. In the coming months, Mrs. Coquilla hopes to expand her sales of prepared food and open her own carinderia, or outdoor restaurant, in town.
In two years, the Coquillas have diligently repaid their KITA loans and incrementally increased the amounts they receive. Beginning with PhP3,000, the Coquillas just recently received a loan of PhP25,000.
The KITA program requires that clients follow a strict repayment schedule as well as participate in a mandatory savings component. Mrs. Coquilla appreciates the structure of the program, citing the requirements as major factors in the success of her loan.
“I have had other loans before,” says Mrs. Coquilla, “but KITA works best because of its disciplined structure. I am careful to repay on time and do not get behind in payments. Today, my business runs smoothly because yesterday I did not fall behind. I am thinking for tomorrow.”
“I like the savings component of KITA because it forces me to think about putting aside money that I otherwise may have spent,” she says. “Sometimes, saving money is not a priority, but KITA makes you treat it as one. And now, I have adopted that philosophy as my own.”
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