funding gap emerging markets
Philippines

Chester Garments

  • NPFC
  • Local partner investment
  • + 4 other investors
  • With EUR 4,200 Jimmy has sufficient working capital to comply with the increasing number of orders.

    €4,200
    Amount
    3.00%
    Interest
    12 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€4,200
    Interest3.00%
    Maturity12 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 17 days on 20 November 2014.
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      Based on all Lendahand historical investments
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      Summary

      Jimmy "Boy" Lumbao is a licensed electrical engineer and a father of 2. Chester Garments is a family owned business, which was Boy’s and his siblings’ legacy when his mother passed away. The company just passed its sixtieth year of producing plain T-shirts in assorted colors. Before joining the company, Boy worked at Wilfer Construction as an engineer. His sister managed the family business until she passed away in 1994. Boy stepped in and took over and has been managing the company for 20 years now.

      In the meanwhile the company grew and became well known brand in Divisoria and is predominantly sold in local malls. Chester Garments currently employs 14 workers that receive performance-based wages and free daily meals. The majority of the workers are high schools graduates or housewives. To show his commitment to the local community, Boy regularly donates goods or money to missionaries in the region.

      Not quite satisfied yet, Boy aspires for his business to expand and grow in order to gather more orders. Together with our local partner NPFC will Lendahand support Chester Garments by providing a loan that will enable Boy to expand its production capacity to support the additional orders. The loan will be repaid in 12 months.

      Company nameChester Garments
      CEOJimmy Lumbao
      Founded1954-01-01
      LocationTondo Manila
      SectorManufacturing / Production
      Turnover€51,825.03
      Employees14

      Impact

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

      • With this investment 2 jobs are created
      • With this investment 8 people are reached

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      We have already contributed for Chester Garments

      Marion van Wingerden
      Johan Feddema
      Derkjan van Veen
      + and another
      4
      investors