Filipina artisan finds success with support of small-business loans
A growing business provides a stable foundation for Lory’s family
Lory weaves stripped bamboo to form a decorative wall paneling, locally known as "diamond." This design is quite popular throughout the Philippines and Lory is exceptional at the craft.
Earlier, Lory and her family lived a difficult existence as she was limited in how much she could make and sell. As the demand for Lory’s products outpaced her supply, she realized that a small loan from VisionFund – nothing more than $40 – would allow her to access the materials she needed to expand her business.
Her calculated risk paid off. Her creations sold well and over the years, Lory continued to borrow capital to improve and develop her business. Lory now has two motorbikes that provide both access to better markets and transportation for her family.
Lory has also hired additional workers who collect raw materials and weave her patterns. Lory is encouraged that she can serve her local community as her business expands.
As her venture developed, Lory’s family experienced direct benefits. A house renovation provided her growing family with a more stable structure, and more room. Lory’s son, Renz, now attends school, and Lory is capable of paying his school fees, uniform and books.
“I’ve worked so hard and am so pleased that I’m seeing direct benefits from all my efforts. My business continues to grow and I’m seeing my family flourish,” said Lory.
Through community development investing with the Calvert Foundation, Praxis Mutual Funds® helps support small-business owners like Lory by funding organizations like VisionFund that give microloans and small business support. The Calvert Foundation is a key partner for Everence community development investments. As an impact-investing institution, Calvert Foundation helps people and communities around the world through community development financing.
This story is originally from the Calvert Foundation’s community development investing map, where you can find more stories like this.