Summary

2nd LOAN

Frankie Socito grew in a family with a business that makes Tofu and Lumpia Wrapper based in Caloocan City. He inherited it in 2002, and change the company name into “FT Socito Trading” that comes from his initials. He is assisted by his wife Letecia in the overall operation. Since 2002, markets in Valenzuela City and Balintawak area are his long time customers. At the same time, he is a sub-contractor of different local Lumpia Manufacturers and a friend that exports his product, he maintains his good partnership with them until now. 

On the past few years, Frank has expanded his market, by directly supplying Lumpia wrapper in different supermarkets. From the first loan he acquired from NPFC, he was able to hire additional five workers, that makes the present employees a total of 30. They are all given piece-rate salary, free food and lodging. Bonuses are given depending upon the business’ production. Frank’s ambition is to enter exporting to tap international market. 

Loan proceed will be used to purchase raw materials for the continuous production, this will be provided by Lendahand and local partner NPFC. Payable for 12 months term.