THE GAME OF LOANS: LIVED EXPERIENCE OF PUBLIC MARKET

VENDORS ENGAGING LOAN SHARK LENDING

A Research Project

__________________

By:

ABOY, Jonathan J.
ANDANG, Krixia S.
CHAVEZ, R Jay S.
DENAPO, Dinah Grace L.
DUMANIEL, Cryz Fate C.

GRADE 12/ABM
SENIOR HIGH SCHOOL DEPARTMENT
GENERAL SANTOS CITY NATIONAL HIGH SCHOOL
Calumpang, General Santos City

May 2023
THE GAME OF LOANS: LIVED EXPERIENCE OF PUBLIC MARKET
VENDORS ENGAGING LOAN SHARK LENDING

____________________________

A Research Project
Presented to the Research Panel

_______________________

In Partial Fulfillment of the Requirements for Academic

Track Senior High School Curriculum

__________________

By:

ABOY, Jonathan, J.
ANDANG, Krixia, S.
CHAVEZ, R Jay S.
DENAPO, Dinah Grace, L.
DUMANIEL, Cryz Fate, C.

GRADE 12/ABM
SENIOR HIGH SCHOOL DEPARTMENT
GENERAL SANTOS CITY NATIONAL HIGH SCHOOL
Calumpang, General Santos City

May 2023
 APPROVAL SHEET

Date: May 17, 2023 Track/Section: G12 ABM - ENTREPRENEURSHIP

Name of Research Project Proponents Title of Research Project

1. ABOY, Jonathan J. THE GAME OF LOANS: LIVED
2. ANDANG, Krixia S. EXPERIENCE OF PUBLIC
3. CHAVEZ, R Jay S. MARKET VENDORS ENGAGING
4. DENAPO, Dinah Grace L. LOAN SHARK LENDING
5. DUMANIEL, Cryz Fate C.

HAZEL ROSE V. CORACHEA, MT I

Research Teacher

This research project has been presented before the panel of examiners.
This paper was examined with a grade of PASSED.

JEAN M. DIZON, MT I NIZA B. PONTERAS, MT I

Member Member

Accepted and approved in partial fulfillment of the requirements for the

Senior High School.

RENATO F. DOCUSIN, T III BONIFACIO L. PIEZAS, JR.

ABM Subject Group Head Assistant Principal for SHS

RUSTICO S. PELONIO, JR.

Principal III
 iii

ABSTRACT

The purpose of this study was to determine the lived experience of public market

vendors engaging in loan shark lending. The study used phenomenological

research design to examine lived experiences and perspectives. The criterion-

purposive sampling was utilized to select the ten public market vendors of Fatima

Public Market who engaged in loan shark lending. An interview guide

questionnaire was then answered by the selected public market vendors. The

study used thematic analysis as a method of analyzing the participants’ responses

through drawing common concepts and theme. Research findings indicated that

the lived experience of public market vendors engaging in loan shark lending

signifies that market vendors engage in loan shark lending to support their finances

in business and other needs. Thus, loan shark lending helps the vendors in their

day-to-day living. The vendors are the ones who approached the lenders in order

to suffice their business finances. However, multiple factors influence by the

lenders and their co-vendors in the borrowing decisions of vendors. As a small

business owner, engaging in loan shark lending is a huge responsibility to handle.

This study recommended that vendors must stop borrowing money from loan shark

lending and instead explore legal and legitimate ways to finance their businesses.
 iv

ACKNOWLEDGEMENT

The researchers would like to express their greatest appreciation to the

following individuals who gave their valued time and assistance in the fulfillment of

the study.

First and foremost, the researchers would like to take this opportunity to

thank Almighty God for giving them wisdom and for being their strength and guide

in writing of this research.

To the class adviser, Ms. Hilda Emma D. Macaway, for the unending

support and guidance.

To the research subject teacher, Ms. Hazel Rose V. Corachea, for the

wholehearted support, effort, patience, and concern that made their research study

possible.

To the panel members, Ma’am Jean M. Dizon and Ma’am Niza B.

Ponteras, for the recommendations and constructive comments to improve this

study.

Lastly, to their family and friends who gave supports, encouragements and

prayers that enabled them to surpass the problems in conducting this study.

The Researchers
 v

TABLE OF CONTENTS

TITLE PAGE i
APPROVAL SHEET ii
ABSTRACT iii
ACKNOWLEDGEMENT iv
TABLE OF CONTENTS v
LIST OF TABLES vi
LIST OF FIGURES vii

CHAPTER I: INTRODUCTION 1
Background of the Study 1
Grand Tour Question 2
Scope and Delimitation 3
Benefits and Beneficiaries 3
Definition of Terms and Concepts 4

CHAPTER II: REVIEW OF RELATED LITERATURE AND STUDIES 5

A. Related Literature 5
B. Related Studies 9
C. Research Gaps 16
D. Theoretical Framework 17

CHAPTER III: METHODOLOGY 18

Research Design 18
Participants 18
Locale of the Study 19
Map of the Location of the Study 19
Data Collection 20
Interview Technique 21
Ethical Considerations 21
Sampling Technique 22
Instrumentation 22

22
3
 Data Analysis and Interpretation
CHAPTER IV: RESULTS AND DISCUSSIONS 23

CHAPTER V: REFLECTIONS AND RECOMMENDATIONS 33

REFERENCES 35

APPENDICES
Annex A - Permit to Conduct the Study 37
Annex B - Letter to the Validators 38
Annex C - Interview Guide Question 40
Annex D - Documentation 42
Annex E - Raw Data 43

CURRICULUM VITAE
 vi

LIST OF TABLES

No. Title Page

1 Decision of Market Vendors in Engaging 23

Loan Shark Lending

2 Person who Encourage Market Vendors 25

To Engage in Loan Shark Lending

3 Factors Considered by Market Vendors in 27

Borrowing Money from Loan Shark Lending

4 Contribution of Loan Shark Lending to 29

Market Vendors’ Business

5 Advices/Recommendations of Market 31
Vendors to their Co-vendors Relevant
to Loan Shark Lending
 vii

LIST OF FIGURES

No. Title Page

1 Map of Fatima Public Market 20

 Chapter I

INTRODUCTION

Background of the Study

The public market is a vital part of the local economy in many developing

countries. It provides an avenue for entrepreneurs, mostly small-scale vendors, to

sell their products and earn a living. However, the public market also poses

challenges for these vendors, including access to credit. With limited options for

formal lending, many public market vendors turn to loan sharks to meet their

financial needs.

In connection to this, a public market vendor must have his or her starting

capital to finance their business but since most of the vendors doesn’t have enough

capital, some of them borrows funds from a loan shark lending to gain access on

products to mass produce or to resell. Loan shark lending is a money loaning with

extremely high interest rates and often uses threats of violence to collect debts

which also affect the profit status of public vendors during due dates.

Loan sharks, also known as "5-6" lenders, are unregulated lenders who

charge exorbitant interest rates and engage in aggressive collection practices.

They are often the only option for individuals who lack collateral or have poor credit

scores. Despite the risks associated with borrowing from loan sharks, many public

market vendors have no other choice. They need the money to sustain their

business or provide for their families.

 2

According to Thakur (2022) loan sharks offer loans at high interest rates,

but they also have advantages of their own. People prefer to utilize it even though

the advantages do not exceed the negatives because it is often the only option.

Due to the availability of such loans, the illegal methods persist even after the

government attempts to regulate them.

Furthermore, Joshi (2018) stated that loan sharks are those who provide

loans in a manner similar to that of NBFCs, banks, and financial institutions.

Unfortunately, this activity is prohibited, and the interest rates they charge are

excessive. Many people still turn to loan sharks when they need money, despite

the extremely high interest rates. People still borrow money despite the

excessively high interest rates for a few specific reasons.

That being the case, the statements provided above supports the

researchers purpose to conduct this study which aimed to know and learn about

the experiences and perceptions of public market vendors engaging to loan shark

lending.

Grand Tour Question

The primary purpose of this study was to describe how the lived experience

of public market vendors in engaging loan shark lending.

Specifically, it sought to answer this grand tour question:

How is the lived experience of public market vendors in engaging loan shark

lending?
 3

Scope and Delimitation

This study focused mainly on the experiences of public market vendors in

engaging loan shark lending. This study was conducted at Fatima Uhaw Public

Market in General Santos City. The participants of the study were ten (10) vendors

who borrowed funds to loan sharks. This was conducted at Fatima Uhaw Public

Market in General Santos City during the first quarter of January 2023.

Benefits and Beneficiaries

This study would be a great help to the following:

Future Market Vendors. This study would help them to learn more about loan

shark and preventing public vendors to loan in a high interest lending company

that could lead them to financial crisis that can affect their business.

Market Vendors. This study would assist them in avoiding loans from loan shark

lending who intend to charge exorbitant interest rates. It will also assist them in

managing money and making financial decisions as they borrow money for their

business.

Public Market Authorities. This study would provide the authorities with

information on how market vendors exploited by loan shark lenders and the high

interest rates they impose on every loan. In order for the authorities to intervene
4

and control their interest rates.

Local Government Unit Officials. This study would be used as data basis on

forming a protocol or legal act to apprehend loan shark lending that abuses the

desperation and lack of funds of public market vendors.

Customers. This study would help them to know the experience of market vendors

on engaging loan shark lending.

Researchers. This study would provide them with information and insight into the

experiences of market vendors dealing with loan shark lending.

Future Researchers. This study would aim to inform the future researchers and

guide them with an understanding of market vendors' experiences in the hands of

loan shark lenders.

Definition of Terms and Concepts

The terms below were defined operationally to finish a common ground for

understanding, clarification and communication between the researcher and

readers:

Lived Experience. This term refers to the personal knowledge about the world

gained through direct, first-hand involvement in everyday events rather than

through representation constructed by other people.

Loan Shark Lending. This term refers to the illegal activity of loan sharks where

market vendors engaged in.

Public Market. This term refers to the place where a person can buy and sell a

specific products and services to those people who need it or create transaction.

This place also where you can find customers and market vendors.

Vendors. This term refers to a person or a group of people who are selling a

specific goods to consumers. This also served as the participants of the study.
 Chapter II
REVIEW OF RELATED LITERATURE AND STUDIES

This chapter consists of the different topics and issues that address the

study. The information is gathered from a wide range of reading and understanding

from the discussion.

A...Related Literature

The following is the body of knowledge in which the variables are

anchored with.

Lived Experience of Public Market Vendors Engaging Loan Shark Lending

According to National Bureau of Economic Research (NBER), market

vendors avail loan in a repetitive state. It was stated that one of the factors is the

lack of self-control thus force market vendors to reloan as they are susceptible to

unavoidable consumption and the sudden drop of income due to mismanagement

(Karlan et al., 2018).

The financial malpractice of the vendors leads them to reborrow funds to

have a starting capital and use its income to pay daily loans and its interest. This

continuous cycle causes the vendors to have no savings as most of the earned

revenue is used as rolling capital and are spent for necessities like food, medicine,

education and etc.

Loan sharks are accessible, they may be found in under-banked

neighborhoods, on the internet, or through personal networks. They do not require

background checks or credit reports which made it accessible to the borrowers.

 6

They will lend large sums of money with the intention of gaining high levels of

interest in a short time (Kagan, 2020).

In addition, according to Agdao Multipurpose Cooperative (2018), loans that

are to be paid in a daily basis does not require collateral and only depends to the

borrower’s credit history and credit score. Thus, relatively make availing loans,

convenient as it enhances the business’s liquidity. It allows the vendor to budget

the remaining assets for rolling because the amount required for daily payment is

much manageable. According to Thakur (2022), loan sharks offer loans at high

interest rates, but they also have advantages of their own. People prefer to utilize

it even though the advantages do not exceed the negatives because it is often the

only option. Due to the availability of such loans, the illegal methods persist even

after the government attempts to regulate them.

Also, Vaidya (2022) revealed that a loan shark offers easy credit to

borrowers at unreasonably high interest rates. Such lenders usually trap destitute

borrowers who are desperate for immediate cash. They don’t demand any

guarantor, asset mortgage, or extensive documents from the borrower. They

neither go through the client’s credit score nor conduct any background

investigation. Additionally, Shweta (2018) stated that that loan sharks do not care,

such as credit score. They do not do something that any lender does like ask too

many questions, require copious amounts of documentation neither do they

require your address proofs or bank account number. Loan sharks offer instant

loans without asking too many questions.

 7

In relation, Moneywise (2018) emphasized that loan sharks seek to avoid

the interest and repayment restrictions that reputable lenders must follow to. They

don't offer the proper paperwork, and they are unlikely to give you receipts or other

evidence of payments. Similarly, a loan shark may raise or modify your debt

without your consent. Also, Kim (2022) also mentioned that loan shark victims are

usually vulnerable people who are desperate for cash immediately. Borrowers

directly engage with loan shark lending because they either do not have time to

wait for a loan to get approved, or they can't qualify for any sort of loan. In simple

words, borrowers run to loan sharks because of its easy, less hassle and

accessible transaction.

However, according to Bhowmik and Saha (2012), for vendors, paying daily

loans is much affordable and cheaper because the total debt is broken down into

daily equivalent which can be paid by cutting a fraction of the daily income. With

proper accounting and management, even a vendor with no starting capital can

maximize their business profitability and productivity specially when the loan is fully

paid.

Moreover, Lee (2022) stated that the difficult economic circumstances and

national insurance increases is causing a cost-of-living problem that could push

more desperate people into the hands of illegal money lenders. These are

frequently those who are unable to obtain conventional loans or credit in order to

meet the demands of continuously rising prices. Also, Shah and Joshi (2021) said

that the interest rate and period of the loan are determined by the borrower's

personal creditworthiness. This is accomplished by taking into account variables

 8

like the business owner's payment history, the loan amount requested, and the

loan's intended use. However, the degree to which these factors have an impact

on the interest rate varies significantly from lender to lender.

Hence, it allows the vendor to stay in business as its challenging financial

transition goes smoothly. A proper vendor financing allows to provide a way to

finance unsecured assets specially in the purchasing and selling of products. The

daily term of payment helps on recovering the cost of liabilities and improves the

business’ profitability (BDC, n.d.). Furthermore, Joshi (2018) stated that loan

sharks are those who provide loans in a manner similar to that of NBFCs, banks,

and financial institutions. Unfortunately, this activity is prohibited, and the interest

rates they charge are excessive. Many people still turn to loan sharks when they

need money, despite the extremely high interest rates. People still borrow money

despite the excessively high interest rates for a few specific reasons.

Furthermore, according to CFO (Chief Financing Officer) Selections, for

some cases where it’s difficult to pay the daily due can be negotiated and be paid

partially or sometimes extended to a later date. Transparency of risky but possible

violation of loan covenant is said to be appreciated and the situation can be

approached by compromising a flexible equitable solution amidst financial crisis

(CFO Selections Team, 2020). Besides, Marinaro (2017) said that increasingly

more small business owners are forced to turn to in order to maintain their financial

viability. It offers a multiscale analysis of the interactions between local social

norms regarding informal credit and the demands of day-to-day business practice

on a micro scale and the macro-level effects of legislation, banking practices, and
 9
9

the capability of institutions mandated to combat illegal lending using a wide range

of documentation and statistical data.

That being the case, the statements provided above supports the

researchers purpose to conduct this study using qualitative research which

focuses on the lived experience of public market vendors in engaging loan shark

lending.

B. Related Studies

Foreign

In the qualitative study of Augusto et. al (2016) entitled Innovative

Experiences in Access to Finance stated that growing data demonstrates that lack

of access to credit limits for people of low-income rate and small businesses from

funding high-return investment initiatives in which impacts the growth and poverty

alleviation. This study describes some recent innovative experiences to broaden

access to credit. These experiences are consistent with an emerging new view that

recognizes a limited role for the public sector in financial markets, but contends

that there might be room for well-designed, restricted interventions in collaboration

with the private sector to foster financial development and broaden access.

In addition, a correlational study conducted by Kodongo and Kendi (2019)

entitled Individual Lending Versus Group Lending: An Evaluation with Kenya's

Microfinance Data using descriptive-correlation method emphasized that micro-

lending has been used successfully in some parts of the world to expand the reach

of microcredit programs. The study also shows that high interest rates increase the

odds of client delinquency while loan size is inversely related to delinquency.

 10

Alternatively, MFIs can develop a graduated scale for charging interest rates in

which credit is extended to groups at first to hedge the firm against repayment risk

following this, the firm identifies individuals within the groups whose credit risk has

improved and issue progressive individual loans to them. Such individual loans

would fetch higher returns in form of interest for MFI and boost their outreach,

reduce delinquency, and enhance self-sufficiency.

The descriptive study of Kevin et. al (2020) entitled Lending to the

Unbanked: Relational Contracting with Loan Shark revealed that the lenders'

ability to harass borrowers who pay on time and in full are rarely subjected to

serious abuse and vice versa. The study claimed that borrowers who often failed

to pay their loans on time are primarily punished by continuing to pay exorbitant

interest.

Furthermore, the correlational study of Sharit & Debdulah (2012) entitled

Major Challenges Facing Small and Medium-sized Enterprises featured a portion

of the major problems connected with credit availability among road vendors. The

monetary incorporation program was taken on as a technique to accomplish

comprehensive development among the metropolitan poor, particularly road

sellers in India. A public strategy set forward different suggestions for the general

government assistance of the road sellers in 2006 and afterward again in 2009.

The reason of monetary consideration of road sellers and its vitality incorporates

the wellsprings of credit; the pace of interest and the related contingency of the

advances allowed.
 11

Therefore, according to the experimental study conducted by Bryan et. al

(2022) entitled Big Loans to Small Businesses: Predicting Winners and Losers in

an Entrepreneurial Lending Experiment mentioned that if lender credit allocation is

inefficient, then the average large loan will generate more default and less firm

profit than it could, and equilibrium would be characterized by both misallocation

and smaller than optimal loan sizes. The large differences imply that lender credit

allocation decisions matter for aggregate income, yet this study finds that existing

practice leads to substantial misallocation.

The existential-phenomenological study of Brown (2018) entitled Exploring

Payday Loan Consumers' Lived Experience of Managing Money, the Consumer

Financial Protection Bureau has new regulations to shield consumers from a debt

cycle as a result. Consumers of payday loans in the UK actually

experience managing money, to better comprehend the choices people in debt

make regarding their finances. Individuals without a safety net of money can find

a high cost, short-term credit solution in payday loans. Recent legislation has

reduced market size and improved lender behavior. Users of payday loans

continue to file a large number of complaints. In addition, using qualitative

approach the study of Leary and Maureen (2016) entitled A Comparison Peer to

Peer Lending Platforms in Singapore and Indonesia, use of payday loans is still

under discussion among many government officials, proponents, and detractors.

Numerous federal inquiries have been prompted by the discussion of whether

payday lending puts consumers under unnecessarily high financial stress.

 12
2

The correlational study of Liung (2022) entitled Unlicensed Moneylending

Markets: Relational Contracting Between Borrowers and Guarantors, a guarantor

repeatedly decides whether to act as the guarantor for a borrower, whereas the

borrower repeatedly chooses a loan shark to borrow from and determines his effort

in repaying loans. We show that the borrower starts by trying different loan sharks

to learn about their forcefulness in collecting repayments and eventually only

trades with those who are less forceful.

However, the study of Zhang and Soudjin (2016) entitled Principal-agency

Theory in Illegal Markets: Cooperation and Conflict Among Chinese Loan Sharks,

the management and organizational problems common to both legal and illegal

businesses, such as moving one party to act in the interest of another rather than

his own. In principal-agency theory, the party that wants someone else to do a job

on his behalf is called the “principal” and the other party is called the “agent”.

Lastly, according to the descriptive study of Rowlingson (2016) entitled

Payday Lending in the UK: The Regul(aris)ation of a Necessary Evil, the growth

and nature of payday lending as well as original and rigorous qualitative interviews

with customers. While these reforms have generally been welcomed as a way to

curb "extortionate" and "predatory" lending. We contend that the rise in payday

lending is a result of three significant, interconnected trends: a rise in the instability

of income for both employed and unemployed persons; cuts to governmental

social programs; and a rise in financialization.

 13

Local

In the descriptive study of Dean et. al (2018) entitled Debt Traps of Market

Vendors and Moneylenders in India and the Philippines revealed that when

someone takes on a high-interest rate loan and is barely able to pay back the

interest perpetually finds themselves in debt. Studying vendor financing practices

is important for understanding financial decision-making of vendors in dire

circumstances, and also for setting appropriate consumer protection policies.

According to the descriptive-correlational study of Prijadi, et. al (2020)

entitled Financing Needs of Micro-enterprises Along their Evolution said that half

of the world's working force, or around 2.5 billion people, are employed in the black

market (ILO, 2017). Over in developing Asian nations, 50% of urban workers are

unemployed. Inside the street vendors and informal jobs in cities are associated

with dirt and one finding is that the majority of microbusinesses do not receive

financing from official institutions. In other words, business owners rely more on

non-formal institutions for funding. This is due to the managers of these

businesses' general inability to prepare loan applications and/or their lack of

expertise and/or training on financial issues. People hesitant to borrow from

conventional financial organizations, due to the high charges but longer processing

times than those of loan sharks.

In addition, according to the descriptive study of Avellaneda et. al (2020)

entitled Exploring the World of 5-6 Lending in the Philippines: A Behavioral

Perspective revealed insights into the behavioral patterns and characteristics of

borrowers and lenders in the 5-6 lending system in the Philippines. The study
 14

highlights the need for policies and interventions that address the social and

psychological consequences of borrowing from loan sharks.

Furthermore, the descriptive study of Yang & Choi (2012) entitled Poverty,

Income Shocks and Borrowing Behavior: Evidence from the Philippines

investigates the impact of income shocks on borrowing behavior in the Philippines.

The study finds that households with lower incomes and limited access to formal

credit are more likely to turn to informal lenders, including loan sharks.

Consequently, an experimental study of Neary (2018) entitled Street

Vendors in Manila mentioned that despite the seasonal nature of work, many

explain financial problems and the use of loan sharks to provide short-term loans

and short-term solutions to long-term economic loss. Also, the low awareness of

local governments on street vendors results to not allowing the issue of permits or

address vendor safety concerns.

Moreover, the descriptive study of Santos (2019) entitled Perception of

Vendors on Informal Lending Institutions revealed informal lending is one of the

Philippines ' most common sources of funding for households. The study described

the perception of vendors towards informal lending in terms of cost, discretion,

patience, humanity or sympathy, and reliability.

In the descriptive study of Tatica (2023) entitled Effects of Loan-Sharking

on Philippines' Microenterprises, it revealed that effects of loan-sharking on

microenterprises in the Province of Capiz, focusing on the sustainability of the

business, profitability of the business, and standard of living when taken as a whole

and grouped into entrepreneur and business. Since microenterprises continue to

 15

grow, loan sharks attract these business owners. The significant effects of loan-

sharking on microenterprises' sustainability were observed in terms of their ability

to compete in the market daily.

In addition, according to the descriptive study of Rodavia et. al (2020)

entitled Formal and Informal Financing as Source of Funds of Carinderia Owners

said that One of the micro-enterprises that rely on the accessibility of the loan

sharks is the carinderia business as there is a ready market for it in the Philippines.

Legal forms of financing such as pawnshops, banks, lending companies, and even

cooperatives are widely.

Furthermore, the descriptive study of More et. al (2012) entitled Bombay 5-

6 Informal Credit Systems for Small-scale Enterprises in Metro Manila said that the

Philippines has a large informal sector composed of small-scale enterprises.

Small-scale entrepreneurs depend heavily on capital to establish and sustain their

businesses. Be that as it may, many of these small-scale entrepreneurs are living

with impoverished conditions, having no capital or assets to be used collateral to

start their small business venture.

Lastly, according to the descriptive study of Dula et. al (2017) entitled

Informal Loan Trap: Bombay 5-6 and its Effect on Microentrepreneurs in Tacloban

City, Philippines stated that Bombay 5-6 lending has certain features that attract

ambulant vendors. Among the topmost features are the exclusion of collateral and

documents as loan requirements. The highest significant effect on the household

can be observed in the relations between the purpose of the loan and default in

payment.
 16

C. Research Gaps

In the previous study conducted by Augusto et. al (2016) revealed only that

growing data demonstrates that lack of access to credit limits for people of low-

income rate and small businesses from funding high-return investment initiatives

in which impacts the growth and poverty alleviation.

In addition, according to the experimental study conducted by Bryan et. al

(2022) mentioned only that if lender credit allocation is inefficient, then the average

large loan will generate more default and less firm profit than it could, and

equilibrium would be characterized by both misallocation and smaller than optimal

loan sizes. The large differences imply that lender credit allocation decisions

matter for aggregate income, yet this study finds that existing practice leads to

substantial misallocation.

Furthermore, the previous study of Yang & Choi (2016) investigated only

the impact of income shocks on borrowing behavior in the Philippines. The study

finds that households with lower incomes and limited access to formal credit are

more likely to turn to informal lenders, including loan sharks.

Whereas, on the current study, this has a larger scope and focused more in

determining the experiences of public market vendors who engaged in loan shark

lending. Therefore, the study of lived experience of public market vendors

engaging in loan shark lending was conducted.

 17

D. Theoretical Framework

This study is anchored in the Theory of Public Debt and Current Reflections

written by Sibel Hybarc (2019) where it focuses on the political, economic, and

social effects and contemporary reflections of borrowing within the framework of

public debt theory, the alteration in the external debt structure throughout the

globalization process is highlighted.

Initially, foreign help and loans incurred by developing countries as

development funding were used to combat the economic stagnation of

industrialized nations. Debt supplies to developing countries have been used to

increase exports from industrialized countries, especially through secured loans.

This circumstance has delivered the new market, technological transfer,

and economic power to the developed countries, while causing consumer society,

external reliance, debt-interest spiral, and eventually external debt crises in the

emerging nations.

The IMF (International Monetary Fund) has implemented the constraints of

structural adjustment plans in order to strengthen the economies of developing

nations against external debt crises. During this period, the IMF has begun to

deploy structural adjustment plans, which entail stringent structural changes, by

deciding the economic and social policies of debtor nations as a weapon for the

benefit of wealthy nations.

 Chapter III
METHODOLOGY

This chapter provides the methods and processes needed in order to

effectively conduct the present study. This chapter contains the following: research

design, participants, locale of the study, location of the study, data collection,

interview technique, ethical consideration, data analysis, instrumentation, and

sampling.

Design

This study used phenomenological research case study approach to

achieve the study purpose. Phenomenological research study enable researchers

to draw novel conclusions from day-to-day lived experiences shared by members

of a particular group or case, it examined human experiences and perspectives

among the given descriptions that were provided by the people who were involved

in this research. This research design was applicable in this study since this was

intended to describe and interpret the lived experience of public market vendors in

engaging loan shark lending. Wilson (2014) defined phenomenological

approaches that are often characterized and differentiated by the degree to which

it is accepted that an investigator can achieve objective descriptions of, or interpret

the lived experience.

Participants

The participants of this study were the public market vendors who engaged

in loan shark lending. There were 10 chosen participants in Fatima Public Market,
 19

General Santos City. Participants were selected based from the criteria set. The

criteria are as follows: the participants must be market vendors of Fatima Public

Market; and, they should have borrowed money from loan shark lending twice or

more than.

Locale of the Study

This study was conducted in Fatima Public Market, General Santos City

located at Barangay Fatima General Santos City. This public market covers

varieties of store such as, fish stall, meat stall, vegetable stall, necessities and etc.

This place was selected for the accuracy of the study which focuses on the lived

experience of public market vendors in engaging loan shark lending. This study

was implemented to the vendors of Fatima Public Market.

Data Collection

In data gathering, the following steps were observed:

1. Asked permission from the research adviser.

2. Prepared the interview guide questionnaires.

3. Checked the interview guide by experts in the field.

4. Asked a permission to conduct the study by writing formally to the principal

of the General Santos City National High School.

5. Conducted the study and gathered the needed data.

6. Transcribed and analyzed all the data.

7. Drawn reflection and recommendations.

Map of the Location of the study

Figure 1. Map of the Fatima Public Market, General Santos City

 21

Interview Technique
The researchers conducted face-to-face interviews with public market

vendors to learn more about their personal sentiments, perceptions, opinions, and

experiences. To obtain comprehensive information, the researcher recorded every

response from the participants. The researchers also documented the individuals'

actual responses.

Ethical Considerations

As responsible researchers, this study followed and exercised the ethical

standards towards the conduct of the research process.

1. The researchers made sure that the participants' personal information was

not made public in order to respect their right to privacy and confidentiality.

2. The researchers educated the participants about the project's aim, who or

what organization is supporting it, how the findings would be utilized, any

potential negative consequences of their participation, and who might have

access to the findings.

3. The results from the acquired time were not manipulated in any way to offer

a true study outcome.

4. The researchers made sure that the evaluation process did not cause any

harm to the participants

 22

Sampling

The researchers used criterion-purposive sampling. Based on Crabtree

(2014), this method involves identification of important criteria, articulations, and

cases that meet the criteria which are systematically reviewed and studied. The

goal of criterion sampling is to identify weaknesses from the critical system that

can be strengthened.

This sampling technique used in this study was appropriate because this

only included market vendors of Fatima Public Market who were engaged in loan

shark lending. The participants satisfied the specified criteria set by the

researchers. The criteria set are as follows: the participants must be market

vendors; they should have loan money from loan shark lending twice or more than;

and they must be vendors from Fatima Uhaw Public Market.

Instrumentation

To determine the lived experienced of public market vendors in engaging

loan shark lending, an interview guide protocol was used.

The interview guide protocol was used as the main data-gathering

instrument. The interview guide was the basis on the conduct of one-on-one

interview.

Data Analysis and Interpretation

The researchers used thematic analysis as method of analyzing the

participants’ responses which were gathered and tabulated through their common

concepts and themes. A rigorous thematic analysis approach can produce

insightful and trustworthy findings (Nowell, 2017).

 Chapter IV

RESULTS AND DISCUSSIONS

This chapter presents the result of the data gathered from the participants

completed by the students researchers. The results are presented in the following

with corresponding interpretation and deliberation. It also answer the particular

problem specified in the statement of the problem.

Lived Experience of Public Market Vendors Engaging Loan Shark Lending

Table 1
Decision of Market Vendors in Engaging Loan Shark Lending
Responses Significant Answers Concepts Theme
It is because I have plan to Plan to engage in For a plan of business
engage in business. If it is business engagement
not for this, I would not
borrow money. But then,
because of my business, I
need some capital. Need some capital
For business capital For…business capital
To have capital for starting To have capital for For business
up a business business capital
For starting capital of my For…starting capital of
business the business
For additional capital For additional capital
To finance my store To finance the business
business
This is for business capital. For business capital
Since I lack finances to start To finance the
the business. I engage in For buying business and for
loan shark lending to start For buying stocks Stocks other needs
my business and to buy
stocks.
For buying stocks and for For additional capital For business
additional business capital capital

For buying stocks For buying

stocks
For business capital, For business capital For business
emergency matters and for capital
other needs
For…emergency matters

For other needs For other

It depends on the When there is Needs
needs…specially something to pay
when...I.have something to
pay for.
 24

Table 1 shows the decision of vendors for engaging loan shark lending. The

result shows that the vendors are decided to engage in loan shark lending for the

following reasons: for business plan engagement, for business capital, for

purchasing stocks and for other needs. Generally, the vendors are engaged in loan

shark lending to finance their business and for other needs. The result signifies

that the decision of the vendors to engage in loan shark lending is for their

businesses to run and operate which includes financing their business to buy

stocks and for other needs.

According to Pandit (2019), to invest in business, entrepreneurs require a

lot of upfront capital and additional funds to grow their business. However, there

are times where the accumulated funds are still not enough hence, they borrow

funds which is paid base on their irregular cash flows. In such situations where

funds may still not be sufficient, vendors turn to borrowing funds from loan shark

lenders.

In connection to this, Philps (2022) stated that illegal money lenders may

target people who are especially vulnerable, in need of money, and may also be

dealing with other issues in addition to their financial difficulties. There is a chance

that more households would turn to loan sharks for financial assistance as a result

of the increased cost of living, even before the anticipated increase in energy

prices. Also, Kim (2022) also mentioned that loan shark victims are usually

vulnerable people who are desperate for cash immediately. Borrowers directly

engage with loan shark lending because they either do not have time to wait for a

loan to get approved, or they can't qualify for any sort of loan.
 25

Table 2
Persons who Encourage Market Vendors to Engage in Loan Shark Lending

Responses Significant Answers Concepts Theme

They (lenders) look for persons Approached and
whom they can lend the money. convinced to borrow money
When they know that you have
a business stall here, they
would approach and convince Convinced by the lenders
you to borrow money, same
thing they did to us.
They offered me low interest Offered low interest rate
rate. They personally offered
me to borrow money from
them. Offered to borrow
money from them
We were convinced by our co- Convinced by our co- Convinced by co-venders
vendors. We lacked business vendors
capital, and we did not have
any choice but to lend some
money from them.
Did not have any choice but Personal decision to
to lend borrow money
some money
It was because of someone Someone.I.knew availed Convinced by co-vendors
whom I knew who also availed borrowing money…from
borrowing money from the loan loan…shark lending
shark. Also, I did not have
enough money to finance my
business, so I ended up Ended…up borrowing
borrowing money from them. money.to.finance the Convinced by the
However, they did not convince business lenders, co-vendors
us to lend money. It was us who and personal decisions
approached them and they
gave us some amount without Not convinced by the
any hustle. lenders…but
approached…them
personally
We personally approached the Needed money to finance
lenders. We need some the business
amount since to finance the
business. Approached.the
lenders to borrow money Personal decision to
from them borrow money
No one convinced me. It was Decided personally
really my decision to borrow to borrow money
money from them because I
knew myself that my business
finances are not enough.
Therefore, I approached the
lenders.
Actually, I was not convinced Approached the lenders
by anyone. I was the one who and borrowed money
approached them and from them
borrowed money from them.
We were not convinced but we Asked the lenders
were the ones who asked to personally to lend
lend some amount. some amount
I was the one who approached Approached the lenders
them to borrow money. to borrow money from them
They did not convince me. I Approached the lenders
was the one who approached to borrow money from them
them to borrow money.
 26

Table 2 shows the persons who encourage the vendors to engage in loan

shark lending. The result shows that most of the vendors were the ones who

personally approached and decided to borrow money from the loan shark lenders

while some were encouraged by the lenders and their co-vendors. Generally, the

vendors were convinced by the lenders, co-vendors and by their own personal

decisions. The result signifies that the vendors’ borrowing decisions were

influenced by multiple factors. Most of the vendors were actually the ones who

approached the lenders in order to suffice their business finances. However, some

were socially influenced and convinced by the tactics of the lenders such as

offering low interest rates. Others were also encouraged by their co-vendors

because they do not have any other choice to finance their business capital.

According to Lee (2022), most victims were told about the lender by their

colleagues or family members and met the lender at either their own or the lender’s

workplace. Borrowers who are vulnerable and in need of financial help tend to ask

money directly from the lenders without hesitations. The difficult economic

circumstances and national insurance increases is causing a cost-of-living

problem that could push more desperate people into the hands of illegal money

lenders.

Additionally, EILMT (2020) stated that victims are introduced to the lender

either through a friend, family member or because they are known in the

community. Victims believe the loan shark is offering them a service, but their

behavior can quickly change if repayments are not met.

 27

Table 3
Factors Considered by Market Vendors in Borrowing Money
from Loan Shark Lending

Responses Significant Answers Concepts Theme

The transaction is very fast Fast and easy
and easy, no other conflicts transaction
but as expected, the interest but with high interest
is really high. Fast transaction
Transaction is fast since it Transaction is fast
requires less requirements.
No survey and ID needed. Less requirements
It is easy to borrow from them Easy to borrow money
because they will directly
lend you the money without
any requirements. Also, you
can easily renew your loan Easy.loan renewals
after paying off the previous
transaction or even not
because they are also easy-
to-talk to. Less
It has less hassle and Easy processing requirements
processing is very easy. Less hassle
Direct and no hassle Direct and no hassle
transaction, also it depends if transaction
the lender will let you borrow
from them.
The government really had a Paperless transaction
lot of process to do, unlike
Hassle- free
loan sharks who offer a No more requirements
transaction
paperless transaction, no
more requirements and IDs No IDs needed
needed.
The transaction is fast. If you Fast transaction Fast transaction
borrow money from them,
they offer high interest rate
but the transaction is very
fast unlike from others who
offer small interest rate but Less requirements Less requirements
requires many requirements.
They demand higher interest No choice
but I have no choice because Financial source
I do not have business consideration
capital.
If it you lend money from loan
shark lending, your income
should be higher than the
amount of loan you paid
because if not, your business
might lead to bankruptcy.
When we were still in the Accessibility to lenders Accessibility
public market before, most of
the lenders were illegal,
unregistered and do not pay
for taxes. New business
owners nowadays mostly
lean to loan sharks because
of its accessibility.
 28

Table 3 shows the factors considered in borrowing money about loan shark

lending transactions. The following are the factors that were considered by the

market vendors in borrowing money from loan shark lending such as fast

transaction, less requirements, financial source consideration, and accessibility.

Generally, the factor that is considered by vendors to borrow money from loan

shark lending is that the transaction process is hassle-free. The result signifies that

market vendors get interested to borrow money from loan shark lending because

of the nature of its transaction. Lenders would likely to engage in loan transaction

that is fast and easy.

Loan sharks make borrowing easy because the steps or requirements

needed is much lesser. The ability of these loans to be available anywhere across

the country makes them much more accessible for people. For borrowers without

a great credit score, payday loans might be the only way a loan might be possible.

Moreover, these loans are also available anywhere in the world which makes it

accessible for anyone (EDUCBA, 2020).

In addition, Stegman (2013) stated that payday loans do not require a credit

check to be approved, the application process is easy, and the full process may

be completed in under an hour. A prospective borrower normally only needs to

provide their home address, a checking account that is currently active, their

driver's license, their Social Security number, a few pay stubs that show their

current work, salary, and pay dates, as well as proof of monthly income. With that,

the transaction process will be less hassle and difficult.

 29

Table 4
Contribution of Loan Shark Lending to Market Vendors’ Business

Responses Significant Answers Concepts Theme

Of course, it will really help to Helped…in financing the Financed the business
finance our business. I used it business
as capital especially in
purchasing stocks. So if your
capital is not enough, you
would not be able to purchase
stocks and might probably Used…in purchasing Helped in purchasing
lessen the profitability of your stocks stocks
business and that's how a
business run.
It helped me in a situation Helped..in..purchasing Helped in purchasing
when there will be stocks bulk stocks stocks
coming with a bulk value. If you
do not borrow money, I cannot
get more stocks. In our case,
we got bulk orders thus this
needs big amount. If I do not
lend money from 5-6, I could
not afford to get those stocks.
I could also say that.it.really Helped in financing the Financed the business
helped me especially when I business
started my business. Because
of the money I borrowed from
the loan shark lending, I got Used as capital in buying Helped in purchasing
capital to buy stocks for my stocks stocks
business but then eventually it Helped in financing
would be a heavy the business, buying
responsibility. stocks and other
It is for business capital and we Used…as business needs
have to roll the money. It can capital
still help in a way.
It helped a little in financing Helped a little in financing
capital. Yet, we did not gain capital but profit gain is
any profit most of the time. It depending on the market
depends on the market sales. sales
If the sales is good, we earn
but if it is not definitely we don’t
earn at all. Financed the business
It helped to finance my Helped…in financing the
business because it could add business
up in my financial source.
Added..to..business
It helped in bringing food in our capital
table. Some of the money were
added to business capital so
we could finance in buying For other needs
Brought food in the table
more stocks.
It helped in my business Helped in the business Financed the business
capital or if I run out finances. I capital
also used it for emergency
purposes.
Used for emergency
matters
For other needs
It could help especially when Helped when run out
you run out of finances. While of finances
the business is still there, you
still have something to earn.
To finance our daily expenses Financed the daily
expenses
 30

Table 4 shows how loan shark lending contributes to the businesses of

vendors. The following are the contributions of loan shark lending to market

vendors’ businesses such as purchasing stocks, financing the business and for

other needs. Generally, the contributions of loan shark lending to the businesses

of vendors are for financing their business, buying stocks and other needs. The

result signifies that vendors engage in loan shark lending to support their finances

in business and other needs. Thus, loan shark lending helps the vendors in their

day-to-day living.

According to Karlan et al. (2018), the financial malpractice of the vendors

leads them to reborrow funds to have a capital and use its income to pay daily

loans and its interest. This continuous cycle causes the vendors to have no savings

as most of the earned revenue is used as rolling capital and is spent for necessities

like food, medicine, education and etc.

In addition, Joshi (2018) stated that this activity is prohibited, and the

interest rates they charge are excessive but many people still turn to loan sharks

when they need money, despite the extremely high interest rates. People still

borrow money despite the excessively high interest rates for a few specific

reasons. Additionally, engaging in loans allow the vendors to stay in business as

its challenging financial transition goes smoothly. A proper vendor financing allows

to provide a way to finance unsecured assets specially in the purchasing and

selling of products. The daily term of payment helps on recovering the cost of

liabilities and improves the business’ profitability (BDC, n.d.).

 31

Table 5

Advices/Recommendations of Market Vendors to their Co-vendors

Relevant to Loan Shark Lending
Responses Significant Answers Concepts Theme
I can say, especially to a business Do not borrow money from
owner, not to borrow money loan sharks, it might
because your income will just cause the business to fail.
directly go to loan sharks instead
yours. I just recognized that
borrowing from loan shark is good
because they will help you to finance
your capital but it is way better not to
borrow from them because your
profit will be directly paid to them.
I will not really recommend this I will not recommend
because as time goes by, it will be borrowing money from loan Do not borrow
really difficult as your loan gets sharks. money from loan
higher and higher. shark
Do not ever try to borrow,,money Do not borrow money
because it is very difficult. because it is very difficult
to engage in loan.
If you still have capital for your Better not to borrow money
business, better not to borrow
because it is hard.
For me, it can really help me But it is better not to borrow
somehow especially if there is a money because it is really
problem.or.emergency. But it is difficult.
better not to borrow money anymore
because it is really difficult.
Just do not try to borrow money Do not try to borrow money
because paying is a hard because paying is a hard Do not borrow money
responsibility. It helped in financing responsibility. from loan shark if it is
capital but when payday comes, not necessary
your debt becomes higher and
heavier.

It also depends on the amount of It is better to have a capital

money to be lend. Even if you only of your own than
own a small business, you will still to borrow from them.
suffer from loss especially when you
will not successfully roll your money,
It is better to have a capital of your
own than to borrow from them.

Do not try borrowing money from Do not borrow if it is not

them because it is very hassle. We necessary. Borrow only if it is
just borrow money if it really needed necessary
just like in emergency or if really
necessary.
For me, I will not recommend this Borrow money when it is
because your hard work will just needed
directly be the payment of your loan.
So, borrow money when it is needed.
It just depends on you on how you If you want to engage in
will handle your loan. So, if you want lending,
to engage in lending, borrow only the borrow only the amount you
amount you are capable of paying. are capable of paying.
You need to balance your finances
so you will not put into troubles You need to balance
because of your debt. your finances so you will not
put into troubles of paying
your debt.
 Table 5 shows the advices and recommendations of vendors to their co-

vendors who might want to engage in loan shark lending. The result shows that

some vendors are not recommending to the other vendors to engage in loan shark

lending while others are recommending to borrow money only if it is necessary.

Generally, the vendors who already engaged in loan shark lending do not want to

suggest borrowing money from loan shark lending if it is not really necessary. The

result signifies that borrowing money from loan sharks is a hard responsibility to

control for a small business owner that is why vendors do not recommend loan

shark lending to their co-vendors. However, some vendors stated that at some

point engaging in loan shark lending is good as long as you are responsible in

borrowing money.

According to Shohib (2017), low incomes and growing needs require every

individual to make economic decisions, one of which is through debt. The decision

to borrow is made by individuals to fulfil their needs, both urgent as well as planned.

Entrepreneurs and businessmen are highly encouraged to practice ethical

behavior in the virtue of business as it is one of the factors that helps them to reach

prominence. For a business to prosperously run one must provide good service

and be responsible for paying off their liabilities. It is given that one must pay off

the loan they borrowed to continue the flow and the growth of the business and to

also improve their credit score reputation (Kotkin et al., 2012).

 Chapter V

REFLECTIONS AND RECOMMENDATIONS

This chapter presents the summary of findings, conclusions, and

recommendations of the study.

Reflections

To reflect and evaluate the findings of this study, the following reflections

were formulated:

1. Market vendors decided to engage in loan shark lending to finance their

business, to buy stocks and for other needs.

2. Market vendors were convinced by the lenders, co-vendors and by their

own personal decisions. The borrowing decisions of the vendors were influenced

by multiple factors. Most of the vendors personally approached the lenders in order

to suffice their business capital. However, some were convinced and encouraged

by the tactics of the lenders such as offering low interest rates while others were

encouraged by their co-vendors because they have no other choices to finance

their business capital.

3. The market vendors’ engagement to loan shark lending helps a lot in their

businesses including financing to start up a business, purchasing stocks and for

other needs.

4. The market vendors consider in borrowing money from loan shark lending

for the following reasons: transactions of loan sharks require lesser requirements

which make its borrowing process hassle-free and convenient for the vendors.
 34

5. The participants do not recommend borrowing money from loan sharks if

it is not really necessary because it is a huge responsibility to handle for a small

business owner.

Recommendations

Based on the findings of this study, the following recommendations were

formulated:

1. The public market vendors must explore legal and legitimate ways to

finance their business capital, such as engaging in a business loan from a bank or

from other financial institutions.

2. The public market vendors must consider seeking financial help from

reputable sources to suffice their business capital and other financial matters

without seeking from loan sharks.

3. The public market vendors must have a clear understanding about their

business goals and financial projections in order to identify their financial needs

and evaluate different financial options that is available to them.

4. LGU Fatima must conduct a seminar about financial literacy that can seek

knowledge to the small business owners on making smart decisions with money.

5. The public market vendors must be cautious about borrowing money from

loan sharks because it can lead to cycle of debt and bankruptcy of the business.

That is why they must avoid borrowing money from loan sharks and instead look

for legal sources of financing.

 35

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 37

Appendix A
PERMIT TO CONDUCT THE STUDY

“THE GAME OF LOANS: LIVED EXPERIENCE OF PUBLIC MARKET VENDORS

ENGAGING LOAN SHARK LENDING”
 38

Appendix B¹
LETTER TO THE VALIDATORS

April 16, 2023

JEAN M. DIZON
Master Teacher I
General Santos City National High School
Calumpang, General Santos City

The undersigned a Grace 12 Accountancy, Business and Management Student of

General Santos City National High School undertaking a research entitled “ THE
GAME OF LOANS: LIVED EXPERIENCE OF PUBLIC MARKET VENDORS
ENGAGING LOAN SHARK LENDING“

With your expertise, the researcher is humbly asking your permission to validate
the attached researcher made questionnaire attached rating tool.

The student researcher is looking forward that her request would merit your
positive response Thank you and God Bless.

Respectfully yours,

Sgd. JONATHAN J. ABOY JR.

Student Researcher Representative

Noted by:

Sgd. HAZEL ROSE V. CORACHEA

Subject Teacher
 39

Appendix B²
LETTER TO THE VALIDATORS

April 16, 2023

NIZA B. PONTERAS
Master Teacher I
General Santos City National High School
Calumpang, General Santos City

The undersigned a Grace 12 Accountancy, Business and Management Student of

General Santos City National High School undertaking a research entitled “ THE
GAME OF LOANS: LIVED EXPERIENCE OF PUBLIC MARKET VENDORS
ENGAGING LOAN SHARK LENDING“
With your expertise, the researcher is humbly asking your permission to validate
the attached researcher made questionnaire attached rating tool.

The student researcher is looking forward that her request would merit your
positive response Thank you and God Bless.

Respectfully yours,

Sgd. JONATHAN J. ABOY JR.

Student Researcher Representative

Noted by:

Sgd. HAZEL ROSE V. CORACHEA

Subject Teacher
 40

Appendix C
INTERVIEW GUIDE

Part I. Participant’s Profile

Name:___________________________________________________________
Type of Vendor: ___________________________________________________
Contact Number:___________________________________________________

Part II. Interview Proper

A. Introduction
Good Morning/Afternoon, Ma’am/Sir. _______________________. I am Jonathan
J. Aboy Jr., a student-researcher representative from ABM 12-
ENTREPRENEURSHIP. Currently, our group is conducting a study entitled THE
GAME OF LOANS: LIVED EXPERIENCE OF PUBLIC MARKET VENDORS
ENGAGING LOAN SHARK LENDING
In this connection, this interview is conducted to gather relevant information
about your experience on engaging loan shark lending. How are you feeling,
Ma’am/Sir______? Are you ready to answer the questions?

B. Question and Answer

Grand Tour Question: 1. How is the lived experience of public market vendors
engaging loan shark lending?
Ancillary/Interview Questions:
1.What made you decide to engage in loan shark lending?
(Nganong nakadesisyon ka nga mangutang sa 5-6?)
______________________________________________________________
______________________________________________________________
______________________________________________________________
 41

2. Who convince you to borrow money from loan shark lending?

(Kinsa ang nagkumbinse sa imuha na maghulam ug kwarta sa 5-6?)
______________________________________________________________
______________________________________________________________
______________________________________________________________

3. What factor/s do you consider in borrowing money from loan shark

lending?
(Unsa nga mga butang ang imong gikonsidera sa paghulam og kwarta
the gikan sa 5-6?
______________________________________________________________
______________________________________________________________
______________________________________________________________

4. How does loan shark lending contribute in your business?

(Unsa ang natabang sa 5-6 dinha sa imong negosyo?)
______________________________________________________________
______________________________________________________________
______________________________________________________________

5. What can you advise to your co-vendors who might engage in loan shark
lending?
(Unsa ang imong matambag/maingon sa imong kauban nga tindero ug
was its tindera nga gusto musolay ug utang sa 5-6?)
______________________________________________________________
______________________________________________________________
______________________________________________________________

C. Closing Statement
My group and I are very pleased that you have graced this interview.
We greatly appreciate your participation in our study. Thank you so much,
Ma’am/Sir _______. May God bless you!
 42
Appendix D
DOCUMENTATION
 47

CURRICULUM VITAE
Personal Information
Name: JONATHAN J. ABOY JR.
Sex: Male
Age: 18 years old
Address: Purok Veterans, Calumpang, General Santos City
Date of Birth: January 23, 2005
Place of Birth: General Santos City
Contact Number: 09383622585
E-mail Address: [email protected]
Mother's Name: Ailyn J. Aboy
Mother's Occupation: Housewife
Father's Name: Jonathan C. Aboy Sr.
Father's Occupation: Factory Driver

Educational Background:
Romana C. Acharon Central Elementary School
Pre-school: Barangay Calumpang, General Santos City
2009-2011
H.N Cahilsot Central Elementary School
Elementary: Barangay Calumpang, General Santos City
2011-2017
General Santos City National High School
Junior High School: Barangay Calumpang, General Santos City
2017-2021
General Santos City National High School
Senior High School: Barangay Calumpang, General Santos City
2021-At Present

Achievement/Organizations:
2009-2017: With Honors
2017-2021: With Honors
2021- At Present: With Honors
Learning Insights:
Research plays a vital role in improving the standard of living and quality
of life we have right now. As a leader of our research project, I encountered a lot
of struggles that made me more confident to cope with. Because of this, my
leadership skills continue to improve so as the teamwork, collaboration and unity
we had with my members.
 48

CURRICULUM VITAE
Personal Information
Name: KRIXIA S. ANDANG
Sex: Famale
Age: 18 years old
Address: Purok Lansong, Barangay Tambler, General Santos City
Date of Birth: May 07,2005
Place of Birth: General Santos City
Contact Number: 09706732079
E-mail Address: [email protected]
Mother's Name: Alma S. Andang
Mother's Occupation: Business Woman
Father's Name: Ackin N. Andang
Father's Occupation: Deceased

Educational Background:
Banisil Barangay Tambler Elementary School
Pre-school: Barangay Tambler, General Santos City
2010-2011
Romana C. Acharon Elementary School
Elementary: Barangay Calumpang, General Santos City
2011-2017
General Santos City National High School
Junior High School: Barangay Calumpang, General Santos City
2017-2021
General Santos City National High School
Senior High School: Barangay Calumpang, General Santos City
2021-At Present

Achievement/Organizations:
2009-2017: Achiever
2017-2021: Achiever
2021- At Present: With Honors
Learning Insights:
First of all, I learned how to gather informations, and formulating informed
opinions. While doing this research, I gained some skills that I thought I would
never acquire such as critical thinking, communication, problem-solving, and
analyzing skills.
 49

CURRICULUM VITAE
Personal Information
Name: R JAY S. CHAVEZ
Sex: Male
Age: 18 years old
Address: Zone 4 Blk.7, Fatima Uhaw, General Santos City
Date of Birth: January 19, 2005
Place of Birth: General Santos City
Contact Number: 09638381318
E-mail Address: [email protected]
Mother's Name: Ayrin S. Chavez
Mother's Occupation: Housewife
Father's Name: Satur O. Chavez
Father's Occupation: Seaman

Educational Background:
Upper Tambler Central Elementary School
Pre-school: Barangay Fatima Uhaw, General Santos City
2010-2011
Upper Tambler Central Elementary School
Elementary: Barangay Fatima Uhaw, General Santos City
2011-2017
General Santos City National High School
Junior High School: Barangay Calumpang, General Santos City
2017-2021
General Santos City National High School
Senior High School: Barangay Calumpang, General Santos City
2021-At Present

Achievement/Organizations:
2009-2017: Achiever
2017-2021: Achiever
2021- At Present: With Honors
Learning Insights:
First of all, I learned how to gather informations, and formulating informed
opinions. While doing this research, I gained some skills that I thought I would
never acquire such as critical thi While performing our research, I discovered
that every vendor who borrows money from loan sharks joins for the same reason
like financing for their businesses. Research is vital to the lives of everyone
because it helps us to be enlightened and discover new things. It also benefits us
as researchers since it teaches us about society and helps us understand it.
nking, communication, problem-solving, and analyzing skills.
 49

CURRICULUM VITAE
Personal Information
Name: DINAH GRACE L. DENAPO
Sex: Female
Age: 18 years old
Address: Purok Roberto, Balunto, General Santos City
Date of Birth: April 03, 2005
Place of Birth: General Santos City
Contact Number: 09388848664
E-mail Address: [email protected]
Mother's Name: Mercy Grace L. Denapo
Mother's Occupation: Housewife
Father's Name: Dennis G. Denapo
Father's Occupation: Knitter

Educational Background:
Roberto Day Care Center
Pre-school: Barangay Labangal, General Santos City
2010-2011
Balunto Elementary School
Elementary: Barangay Labangal, General Santos City
2011-2017
General Santos City National High School
Junior High School: Barangay Calumpang, General Santos City
2017-2021
General Santos City National High School
Senior High School: Barangay Calumpang, General Santos City
2021-At Present

Achievement/Organizations:
2009-2017: Achiever
2017-2021: Achiever
2021- At Present: With Honors
Learning Insights:
I have learned from conducting this research the different perspectives of
public market vendors of Barangay Fatima, General Santos City through
surveying and witnessing their everyday life. This research helped me/us to unite
and conduct unity throughout this paper. It helped us to become more realistic on
finding solution on our research problem that we are facing. I could say that this
research can help anyone who wants to enter being a vendor and can help them
to decide for their future business.
 50

CURRICULUM VITAE
Personal Information
Name: CRYZ FATE C. DUMANIEL
Sex: Female
Age: 18 years old
Address: Purok Greenplains, Calumpang, General Santos City
Date of Birth: December 16,2004
Place of Birth: General Santos City
Contact Number: 09269216527
E-mail Address: [email protected]
Mother's Name: Zainab Jane C. Dumaniel
Mother's Occupation: Housewife
Father's Name: Jueberto K. Dumaniel
Father's Occupation: Tricycle Driver

Educational Background:
H.N Cahilsot Central Elementary School
Pre-school: Barangay Calumpang, General Santos City
2010-2011
Calumpang Elementary School
Elementary: Barangay Calumpang, General Santos City
2011-2017
General Santos City National High School
Junior High School: Barangay Calumpang, General Santos City
2017-2021
General Santos City National High School
Senior High School: Barangay Calumpang, General Santos City
2021-At Present

Achievement/Organizations:
2009-2017: Achiever
2017-2021: With Honer
2021- At Present: With Honors
Learning Insights:
Research is life. This research has become a big challenge for me. This is
the thing that will help you find an answer to a specific problem that is also a
problem in your society. Research had a great impact on me. I became
responsible to play my part in our research because this is not only for others but
also for me as a researcher. This subject is not all about discovering, but also
learning from it.