Check out some available loans that are similar to this one!
Gloria Jaso Group
In this Group: Gloria, Crispina, Marion, Rosenda, Merlyn
Gloria J. is from the village of Macabayao, Jimenez, Misamis Occidental. She is the leader of a five-member group loan offered by Kiva partner, PMPC. While each member of the group receives an individual loan, they are collectively responsible for paying back the loans of their fellow group members if someone is delinquent or defaults.

Gloria is 53 years old, married, and has two adult-aged children. To make a living, she owns and operates a general store. The main source of income for the business comes from selling different dried goods products in the community. Gloria has been engaged in her business for over 14 years and earns approximately 3,400 PHP per month from these activities.

In 2008, Gloria joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. She has successfully repaid a previous loan of 9,000 PHP from PMPC. This loan was used to purchase additional inventory and as working capital. Gloria is requesting a new loan of 14,000 PHP, which will be used to purchase additional products to sell. This loan will be her fourth from PMPC. She plans to use the additional revenue generated from the business to improve and expand her business.


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

  • $7,000
    Average annual income
  • 1464
    View loans »
    Philippines Loans Fundraising
  • $59,381,200
    Funds lent in using Kiva
  • 44.5
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A portion of Gloria Jaso Group's $975 loan helped a member to purchase additional products to sell.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 23, 2010
Listed
Apr 19, 2010
Currency Exchange Loss:
Possible
Ended:
Nov 15, 2010