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Lourdes Tagaloguin Group
In this Group: Lourdes, Gilda, Cresilda, Gloria, Leonora, Calixta
Lourdes T. is from the village of Pan-ay, Clarin, Misamis Occidental. She is 43 years old and is the group leader of a six-member group loan offered by PMPC. While each member of the group receives an individual loan, they are all collectively responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. The official name of this borrowing group is Lourdes T. Group.

Lourdes is married and has three school-aged children. She owns and operates a business making and selling food, selling a variety of food products in the local community. She has been engaged in her business for over six years and earns approximately 4,000 PHP a month.

In 2009, Lourdes joined PMPC to gain access to financial services to help improve her living situation and her ability to engage in business activities. She has successfully repaid a previous loan of 5,000 PHP from PMPC. This previous loan was used to to purchase raw ingredients needed to make products for sale.

Lourdes is requesting a new loan of 9,000 PHP which will be used to purchase additional inventory and used as working capital. This loan will be her 2nd from PMPC. She plans to use the additional revenue generated from the business to improve the general living conditions of her family.


About PMPC:
Paglaum Multi-Purpose Cooperative (PMPC) is one of the most progressive cooperatives in northwestern Mindanao. It reaches out to the rural poor using the Grameen model.


*Note: To maximize efficiency and reduce costs, this loan was posted using a template to automate the translation by Kiva. Given that manual translation of entrepreneur profiles is costly, Kiva created this template for our Field Partner to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.

Additional Information

About Paglaum Multi-Purpose Cooperative

Paglaum Multi-Purpose Cooperative (PMPC) was founded in 1992 by the beneficiaries, parents and staff of the Paglaum Community Development Foundation to address economic and livelihood activities for sustainability. The organization operates in the northwestern provinces of Mindanao and Visayas.

In the local vernacular, “paglaum” means “hope.” The initial foundation is dedicated to child development through a holistic approach. The goal is to build self-reliance and expand opportunity so the poorest of the poor can help themselves.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Philippines

  • $1175
    Average annual income
  • 268
    View loans »
    Philippines Loans Fundraising
  • $52,061,525
    Funds lent in using Kiva
  • 46.5
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A portion of Lourdes Tagaloguin Group's $1,050 loan helped a member to purchase additional inventory and to use as working capital.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 14, 2010
Listed
Feb 7, 2010
Currency Exchange Loss:
Possible
Ended:
Apr 15, 2010