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IAMRAFI: All for My Family
The Story of Melba Abano, RAFI Micro-finance, Inc. (RMF) Nanay
By Marco Paulo Trajano Deligero and RAFI Microfinance Inc. | July 24, 2018
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Melba started as a sales lady, and now she manages her own retail store with her entire family. With the help of RAFI Micro-finance, Inc. (RMF) she was able to expand her business and employ three people to help her run her ready-to-wear/ukay-ukay business.
The Beginning of the Family Business
A native of Ilocos Sur, Melba runs the business together with her husband, a retired army. Before they got married, she was a sales clerk while her husband was in the military.
Upon his retirement, he ventured into the ukay-ukay business. Melba followed suit due to the growing demands of their family.
“We started in my cousin’s backyard, if I remember correctly, we just had 20 thousand pesos as starting capital,” Melba said.
Expanding Their Business
Seeing the success of their business and the opportunity for exponential growth, they knew that they needed a bigger capital.
It was at this time that they were introduced by a fellow-entrepreneur to RAFI Micro-finance, Inc. (RMF).
“One time, someone told me about RMF, that they help small entrepreneurs like me. That’s the reason why I tried it,” Melba said.
On How RMF Have Helped Them in Times of Need
When her husband decided to work in Saudi Arabia, she said that she went to RMF to avail of the loan service for the placement fee of her husband. She appreciated the flexibility of the RMF product.
“The good thing about RMF is that if you are a good payer, you can choose to pay your loan for either three months or six months,”
When her husband finally started working abroad, they continuously teamed up to strengthen their business; they used some of her husband’s earnings as capital for their expansion.
Challenges in the Retail Business
Melba said that the retail business is unpredictable, especially with ukay-ukay. She said that there are times when all their stocks are sold out immediately, but there are also times when it is takes so long.
“You have to know your market, if you see that your products are not sold immediately you should lower the price or your mark-up rate, that’s how you will get the customers,”
“You should also know what the customers want: do they like shirts? Pants/jeans? Jackets? Or bags? Whatever it may be, it should be available, you must be ready when they ask for it,” She added.
When asked which item is easily sold out, she answered ‘jeans, especially the good ones, customers know what they want.’
The Value of Saving
Melba also shared their family challenges and how she realized the value of savings.
Her husband had to undergo an operation, and they needed money. That was when she realized the value of having some savings that was enough for the operation, not to mention their steady source of income.
Good Things Comes to Those Who Work Hard
After the operation, good things came their way — they continued to get more stocks for their retail business, and opened up an additional branch to expand their ukay-ukay.
With all the hard work they put into the business, Melba and her husband were able to buy a 60-square meter lot, build their own house, and most importantly, send their daughter to college at the University of San Jose – Recoletos where she finished her Bachelor’s degree in Mass Communications.
“The best achievement for me is to be able to provide the best I can for my family and give them the best in life,” Melba said.
“That’s what mothers always do,” She added.
Sharing Her Secrets to Success
Melba never hesitated to share her business secrets to those who want to start their own.
“In the retail business you should always be prepared, like what I have said earlier, you should know your market, know what people like,”
“Second, of course, always have good stock, never run out of stocks,”
“Third is for you to have a good pricing, you should not always think of big profit, you should consider the purchasing power of your customers, how much they can afford and how much they are willing to pay for a certain product,”
“Lastly, always have a clean shop, customers will keep coming back if you have a nice store and have something new to offer,” She added.
Her Greatest Motivation
When asked on her motivation, Melba simply answered, her children.
“Me and my husband are getting old, we want to leave something behind to our children, making sure they are okay even if we are no longer around,”
“My parents are also into business, they are also business-minded, that’s why I want them to have that quality as well, that they should always be ready for their future,” Melba said.
She also said that they are planning to expand their business in the years to come and hopes that their children will learn the retail business so that they can eventually take over.
Message to RMF Members and Non-Members
Melba, who is known to be outspoken, said that to non-members who are interested in joining or becoming a RMF Nanay, they are ‘very welcome to join as long as their intensions are clear, and will use the money that they borrow to start their own business and not just waste it,’
She also said that ‘new or old members should not consider the loan money as ‘free’ money; they should pay what they have borrowed because if they will not, it is better not to borrow at all,’
“If you use the money well and only for its sole purpose of business or entrepreneurship, you will succeed,” She added.
On How She Wants to Be Remembered
Melba admits being frank but assured that it is only for a purpose.
“Sometimes people don’t appreciate someone who would call out their mistakes, that’s why some people find me as ‘maldita’ or ‘suplada’. The truth is I am just speaking up when it matters,” She said.
She said that there were times when some of her co-members borrowed money from her without paying and when she called their attention, they got mad.
“Is there something wrong with what I did? They borrowed money, they should pay, there’s nothing wrong with that, and I am just being honest, being right,”
“We should learn how to return what we have borrowed,”
“Again, I only speak up when it matters,” Melba added.
People That Matters
Melba give thanks to her family and husband for being supportive to help their business grow.
She also thanks RAFI Micro-finance, Inc.
“And now, with additional blessings, we have acquired our very own tricycle, house, lot, and a multi-cab that we use for our ukay-ukay business,”
“Thank you very much to RMF, being an RMF Nanay has helped me and my family a lot.” #IAMRAFI
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