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Virginia's Group
In this Group: Virginia, Carmilita, Marianeth, Maribel, Crisalyn
Virginia A. is from the village of Lapasan, Clarin, Misamis Occidental. She is 55 years old. Virginia is the group leader of a 5-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.

Virginia is married and has 4 adult children. To make a living, Virginia owns and operates a business making and selling food, primarily selling snacks and other delicacies, in the local community. Virginia has been engaged in her business for 7 years and earns approximately 3000 PHP a month for these activities.

In 2005, Virginia joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Virginia has successfully repaid a previous loan of 5,000 PHP from PMPC. Virginia is requesting a new loan of 7,500 PHP which will be used to purchase raw ingredients needed to make products for sale. This will be the 3rd loan taken out by Virginia 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
  • 1131
    View loans »
    Philippines Loans Fundraising
  • $54,578,425
    Funds lent in using Kiva
  • 45.0
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A portion of Virginia's Group's $550 loan helped a member to purchase raw ingredients needed to make products for sale.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 18, 2010
Listed
Apr 10, 2010
Currency Exchange Loss:
Possible
Ended:
Oct 15, 2010