Edna Sto Nino

 

Edna Sto. Nino is early for the interview. She has asked her sister to keep an eye on the wholesale grocery store that she runs in Barangay Bautista, San pablo City. She confesses that she had actually showed up the day before, thinking that the interview was on Friday, not Saturday. She is that eager to tell her story.

 

Edna is normally like this. When you meet her for the first time, you cannot tell immediately that she is one of CARD’s most successful clients. She is simple and unassuming. On that particular Saturday, she is wearing a red blouse and cut-off jeans. The strap of a small cloth bag is slung across her chest. It is easy to underestimate her.

Underneath this exterior, however, is a woman of steely resolve and strong discipline.

Edna does not like being late for anything, as much as she does not like being unable to meet her monthly payments to CARD. She first became a member in 1993 when she was able to borrow a mere p1,000 without presenting any collateral. She only needed to pay back the loan within six months.

At that time, Edna only had a small table on which she put any item she thought she could sell. She used the proceeds of her maiden loan to buy more goods to sell, filling up that table. Soon, she became eligible for a bigger loan which enabled her to establish and improve her store, trade larger goods, and even take care of livestock that she would sell at a premium.

Indeed, Edna has come a long way. She is the oldest in a brood of 12 siblings.her parents being poor expected that she and her brothers and sisters to take on odd jobs starting at four in the morning. As a teenager, she peddled wares during the day and studied at night. Except for a brief stint as a teacher at a community day care center, Edna was always dabbling in retail sales — more so after she married and started her own family.

Many years hence, Edna’s store is flooded with grocery items of all kinds. her place is a landmark in the area. Through another loan from CARD, Edna was also able to buy two vehicles that they now use to ferry their goods back and forth from the store. Aside from retail goods and livestock, she now also runs a canteen with her husband, who plays the role of chef. She remains in firm control of everything though, so much so that her family fondly refers to her as Bisor (supervisor).

Thanks to her modest success, Edna’s credit worthiness has increased rapidly over the years. She has since moved up from microfinance and qualified for CARD’s SME program.

Alas, not all her fellow card members have been as successful as she is. Edna believes that the difference lies in her wise handling of the money. Loan proceeds should only be used for the business, for things that are expected to generate revenue. While it is tempting to use the funds to augment household expenses or to buy important appliances, one must refrain from doing so. In her experience, money managed this way will be gone in no time — with nothing to show for it.

For Edna, loan amortizations take precedence over other expense items as much as possible. This is where she gets creative and diversifies her income sources. For example, if the schools are closed for the summer, that means little to no demand for student meals. However, summer also signals the start of basketball season, so rather than packed lunches, home-cooked meals, breads and soda are in demand.

Edna says she keeps the business going through sales volume, not margins. When the cost of an item goes up, she often has no choice but to increase her prices as well — but unlike other retailers, she advises her customers beforehand to allowing them to plan their purchases. Time and again, Edna’s good faith has earned her their loyalty and respect.

She also sells on credit, though not aggressively. Kind and amiable as she is, Edna is strict in collecting from customers who owe her. She talks of a rival store that eagerly sold on credit to compete with her but eventually had trouble collecting on those debts. It folded up. Edna makes sure that her customers understand that she herself is in debt to keep her business going, but that she faithfully pays her loans. This way she hopes that they try to
emulate her example.

Given her demanding daily routine, one wonders if Edna ever finds time to rest. She says she is able to nap briefly during non-peak hours. Then again, as soon as somebody knocks, she immediately rises from her chair to entertain the customer — regardless if the transaction is only worth a few pesos.

Thanks to her keen sense of entrepreneurship, Edna has singlehandedly changed her family’s fortunes. her only son was able to obtain his bachelor’s degree in mathematics from a state university in Manila. The boy, now 28, lives in Dubai, earning comfortably from a white-collar job. She and her siblings have also been able to send a handful of nieces and nephews to college. When a niece completed her education degree, Edna remembers giving her a savings account as a graduation present. “Everyone in the family has to learn the habit of handling money wisely,” she says.

Edna considers herself immensely wealthy — but not in a material sense. She is loved and supported by her family and extended family. Working together, they run the whole show. When a problem arises, it becomes everybody’s problem. All of them chip in to find solutions. When success happens, it is everybody’s triumph.

“Families are a priceless gem,” Edna says, “and I’m very thankful for mine.”

having a strong work ethic, the family is not fond of fancy things — malling, nice clothes, restaurants are considered superfluous expenses. She remembers a neighbor, another store owner, who became prosperous early on but bought several vehicles both for the business and for personal use. Edna was surprised to learn one day that the store had been closed.

“Luxury comes later, when you are stable enough to stop relying on loans. When the money you earn is truly yours,” she advises.

Edna says that her desire to maintain an untarnished record with CARD has enabled her to be more creative and gutsy — something that she’ll always be thankful for. She continues to explore new opportunities to increase and diversify her income. She looks forward to the day when she can finally kick back and relax, with no amortization to fret about.

CARD’s presence in Edna’s life has been nothing short of transformational. “Where can you find a bank that will treat you like this, have so much trust in you with only your face as collateral, and even guide you in managing your business well?”

Edna feels the only way she can show her appreciation for CARD is by maintaining a stellar record with the company.

“It’s the least I can do.”

~ Edna Sto Nino