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Virgilia Burlat Group
In this Group: Virgilia, Fe Mar, Metzi
Virgilia B. is from the village of Unidos. She is 64 years-old and she is the group leader of a three-member group loan offered by Kiva partner 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.

Virgilia is married and has two school-aged children. To make a living, Virgilia owns and operates a business making and selling food. While not the only means for generating revenue, the main source of income for the business comes from selling snacks and other delicacies in the local community. Virgilia has been engaged in her business for over five years and earns approximately 4,000 PHP a month.

In 2005, Virgilia joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Virgilia has successfully repaid a previous loan of 10,000 PHP from PMPC. This previous loan was used to to purchase additional inventory and to provide working capital. Virgilia is requesting a new loan of 10,000 PHP which will be used to invest in expanding the business. This loan will be the ninth loan taken out by Virgilia 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
  • 325
    View loans »
    Philippines Loans Fundraising
  • $52,185,750
    Funds lent in using Kiva
  • 46.1
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A portion of Virgilia Burlat Group's $575 loan helped a member to invest in expanding her business.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 28, 2010
Listed
Jul 1, 2010
Currency Exchange Loss:
Possible
Ended:
Apr 15, 2011