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V-Vhois Pasalubong

  • CountryPhilippines
  • TypeLocal partner investment
  • IssuerNPFC
  • Amount€3,800
  • Annual interest3.00%
  • Maturity6 Months
  • CurrencyEUR
  • 1 new job
  • 4 people reached
100%

Fully funded in 9 days.

Irene Minano is a thirty eight (38) year old owner of V-vhois Pasalubong (pasalubong means "take home goodies") in Antipolo which is named after her nephew. V-vhois Pasalubong is a maker of kakanin (tidbits) made from malagkit (glutinous rice) called suman (rice cake cooked in coconut milk, and often steamed wrapped in leaves.) Antipolo is famous for its suman where they are abundant and sold around the areas near Antipolo Cathedral.

Their famous products are Suman sa Ibos (buri leaves or palm leaves) and Suman sa Lihiya (Lye). Suman sa Ibos is a simple kakanin recipe that requires glutinous rice and coconut milk and the wrap is made from buri or palm leaves. While Suman sa Lihiya is glutinous rice soaked in water for several hours before putting-in a portion of lye water and wrapping each serving in soft banana leaves. The wrapped mixture is then boiled until the glutinous rice is done. These are best eaten either with sugar or latik (this is the residue when coconut milk is simmered).

A year before Irene is born, her mother Josephine who was fond of eating kakanin made some suman and sold some to the neighbors to augment the income of the family from her husband's job as a jeepney driver. From then on, they received orders for some more until the manufacturing of suman became the main source of income. The kakanin business had sent Irene and her siblings to finish college.

Irene, after graduating from a management course had worked for Marikina Valley Rural Bank as a bank teller and seven (7) years ago quitted her job and set to formalized the family business in 2007. She still have her mother worked in the production of suman. For thirty nine (39) years, they have employed people from the Apia region in Antipolo that is the current place of residency of the Dumagat ethnic group. Currently they employ ten (10) workers with free board and lodging, half of which are females for manufacturing suman. The products they made are distributed around Antipolo area, Panagbenga Festival (Flower Festival) in Baguio City, Santa Marta de Pateros in Municipality of Pateros and during town fiestas (festivals) in Bicol, Bulacan in kiosk employing a dozen or more for doing sales.

Irene plans to add one kakanin which is Piaya (flat unleavened bread filled with muscovado sugar and a famous delicacy in the “sugar capital” of the country, Negros Occidental.)

Lendahand partners NPFC are helping V-vhois Pasalubong to get more raw materials to boost up production and support for incoming orders. 

  • Company nameV-Vhois Pasalubong
  • OwnerIrene Minano
  • Founded1975
  • LocationAntipolo, City
  • SectorWholesale / Retail
  • Turnover€58,083.25
  • Employees10

Impact of this project

About the investment

  • TypeLocal partner investment
  • IssuerNPFC
  • Funding target€3,800
  • Annual interest3.00%
  • Maturity6 Months
  • Repayment periodSemiannually
  • CurrencyEUR
  • Terms and conditionsShow

About the risks

What are the risks of investing money?

Our local partners cover the risk of currency exchange rates and loan defaults. They do this by maintaining financial reserves for this purpose . In addition, there is an option to claim their equity if needed. While these measures are intended to minimize the risk to funders, our local partners face risks of their own that could effect their ability to secure a loan. These include: - bankruptcy - currency exchange rates - fraud - operational risks - political and regulatory changes - natural disasters or epidemics.

If you invest direct in a company, hence not via a local partner, risks of default are not covered. As the risk that comes with direct lendings is generally higher than an investment through a local partner, the interest rate is also higher.

There is also some operational risk at Lendahand. An example might be that Lendahand is unable to find shareholders to finance their activities. In such a case, Lendahand will handle outstanding loans at the best of its ability. At the same time, our ability to legally address non-payment from local partners becomes understandably difficult.

How does Lendahand minimize the risks?

Local partners must adhere to our mission and work with us to provide loans that are affordable. This insures that local entrepreneurs have access to financing that allows them to grow their business. A local partner must also have a track record. In other words, they must have proven themselves as a meso-credit provider for SMEs. This means (for instance) that the partner must have a solid credit portfolio, along with enough buffers and equity to compensate for unexpected downturns. We also check the organizational structure of the partner and how robust their (internal) procedures are. Finally, the loans that a local partner receives via Lendahand must be in proportion to the partner's total balance sheet. A healthy balance between effectuating influence and independence is crucial. If you would like to receive more information on the financial indicators we employ, please contact us via info@lendahand.com.

When currency exchange risks become too high for a local partner, Lendahand will urge the local partner to cover these risks. In some scenario's the local partner is contractually obliged to comply with these demands.

Lendahand will always conduct due diligence when a Company requests for a direct loan. To provide more insights on risks, an independent partie comes in to perform brief analysis on direct loans. The results can be downloaded on the project detail page of the direct loan. However, this analysis serves primarily as a tool for your own opinion and conclusion. Pay attention to the fact this analysis is not an investing advice.

Does Lendahand provide guarantee on the loans?

No. Local partners take care of the repayment, even if (some) entrepreneurs are unable to do so themselves. If the local partner is for some reason unable to repay then there is a chance of partial or full loss of your money. For this reason Lendahand only selects financially solid partners based on strict criteria.

Also, for direct loans no guarantee is provided.

Does Lendahand have a license or exemption?

Yes. The Dutch Authority Financial Markets (AFM) has provided Hands-on B.V. (with trade name 'Lendahand') in September 2016 with an investment firm license in accordance with article 2:96 of the Financial Markets Supervision Act (Wft). Placing orders on Lendahand's website is therefore an AFM regulated activity. Lendahand also meets its minimum capital requirements of EUR 125,000 following its license as required by De Nederlandsche Bank (DNB).

Lendahand uses an exemption from an approved prospectus that is available up to EUR 5 Million per year. 

How safe are my personal details?

We adhere to strict safety requirements with regards to private and payment details. All sensitive data is sent through an encrypted connection (https). Also, data is stored (encrypted) in a secured facility provided by AWS: the world largest hosting service. Customer documents can only be retrieved by a secured connection and multi-factor authentication.

What happens if the local currency devaluates?

Our local partners and Companies bear the exchange rate risks. We settle the loan, redemptions, and interest payments in euro.

Does Lendahand use a third foundation fund?

Lendahand works with Intersolve EGI: a Dutch financial institution that specialises in offering services in the field of payment settlement and electronic money. To be able to offer these financial services Intersolve EGI must comply with the applicable financial legislation. Intersolve EGI is therefore supervised by De Nederlandsche Bank (DNB) and the Netherlands Authority for the Financial Markets (AFM) and is in possession of a license to act as an Electronic Money Institution (and therefore also has a license as a Payment Institution). Your money will be deposited on a protected and secure bank account until the project you have invested in has been fully funded. Intersolve in no way has access to these funds. Once the project is fully funded, the money is transferred to the local partner or company in question.

What happens with my money if Lendahand goes bankrupt?

If Hands-On BV (containing the brand name Lendahand) would go bankrupt trades between Lendahand and payment service provider Intersolve EGI would cease immediately. Intersolve will then transfer the funds in your personal wallet to your bank account (Note: if at this time the project you have invested in has been fully funded and the money has thus been transferred to the local partner, these funds will not be transferred back to your bank account). Intersolve will then in consultation with a trustee handle all repayments between the investors and investees up until the final repayment of the last project has taken place.

Additionally, Lendahand is part of the investor compensation scheme (ICS). This scheme aims to compensate individuals and small businesses who have trusted money and or financial instruments (such as notes or options) to a licensed bank, investment firm or a financial institution in case the financial firm is unable to meet its obligations arising from claims related to the investment service. The ICS guarantees an amount of up to EUR 20,000 per individual. For more information, go to www.toezicht.dnb.nl/en/2/50-202210

Why is my money going via Intersolve EGI?

As part of the AFM license for investment firms it is required that operational activities carried out by Lendahand (maintaining the website, contracting of local partners, legal issues, etc.) are strictly separated from financial transactions (payments made through the website). Intersolve takes care of the payments. This collaboration offers you more security, since your money is placed on a protected bank account immediately after you have made your payment.

What happens when a local partner goes bankrupt?

When a local partner goes bankrupt, there will be a chance that you lose (part of) the amount you lend. Obviously Lendahand will try to recover outstanding payments, but the success rate will be limited in such situations. For the investor there is no possibility to take action against the financial institution. From a legal point of view the local partners are separated, therefore it is recommendable to spread loans across different local partners.

About NPFC

Number of companies in portfolio378
Total assets€5,181,555
Leverage ratio17.00%
Write-off ratio last 12 months14.20%
% investment amount in arrears (>90 days)19.90%
% investment amount in arrears (>180 days)10.20%

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