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funding gap emerging markets
Philippines

FT Socito Trading 2

  • NPFC
  • Invest in a Financial Institution
  • + 15 other investors
  • With a loan of EUR 7,600 Frank will be able to increase his export of Tofu and Lumpia Wrappers.

    €7,600
    Amount
    3.00%
    Interest
    12 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€7,600
    Interest3.00%
    Maturity12 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 10 days on 27 December 2015.

      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.

      Company nameFT Socito Trading 2
      CEOFrank Socito
      Founded2002-01-01
      LocationCaloocan City
      SectorManufacturing / Production
      Turnover€99,733.63
      Employees30

      Impact

      There is currently no information available for this section. Check the Summary tab for more details.

      • With this investment 2 jobs are created
      • With this investment 8 lives are improved

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