Vendor makes fortune from Balut
(From L-R) Giovanne Gonzales, RMB Business Advisor; Arnold Viado, Regional Awardee; Marixi Rufino-Prieto, CMA National Selection Committee Member, John Thomas Deveras, RCBC SEVP for Strategic Initiatives and RMB Vice-Chairperson of the Board; and Raymundo Roxas, RMB President.
Photo courtesy of Microfinance Council of the Philippines, Inc.
Often sold on the streets at night by vendors on foot, Balut is easily one of Filipinos most favorite exotic treat.
For Arnold Viado, it is not only a favorite snack; it is also the business that sent his kids to school and had won him the Citi Microentrepreneur Award in 2018.
With hard work and perseverance, what started as a P1,000-capital venture is now a profitable business that employs fellow balut vendors.
Viado and his wife attributed the success of their business to good financial handling and the assistance they received from Rizal Microbank.
“An account officer from the bank visited us and offered us a business loan of P50,000,” he said.
Rizal Microbank , the thrift bank arm of the Rizal Commercial Banking Corp.(RCBC), that lends largely to agri-businesses and farmers.
Viado is a certificate holder for auto mechanic vocational course but life had something better in store for him as balut vendor.
Last December, Viado was named as one of the nine outstanding Filipino entrepreneurs that were recognized for their innovation and progress as budding business owners.
Launched in 2002, The Citi Microentrepreneurship Awards (CMA) has reached its 16th year of celebration as it recognizes outstanding microentrepreneurs nationwide.