Check out some available loans that are similar to this one!
Novembrita's Group
In this Group: Novembrita, Cherilyn
Novembrita S. is from the village of Sepac, Sapang Dalaga. She is 51 years old and is the group leader of this two-member group loan offered by PMPC. While each member of the group receives an individual loan, they are both collectively responsible for paying back the loan of their fellow group member if they are delinquent or default.

Novembrita is married and has three adult children. She owns and operates a business running a piggery, selling pigs in the local community. She has been engaged in her business for over three years and earns approximately 2,500 PHP a month.

In 2005, Novembrita 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.

Novembrita is requesting a new loan of 10,000 PHP which will be used to invest in expanding her business. This loan will be her 12th from PMPC. She plans to use the additional revenue generated from the business to support her family’s daily needs.


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
  • 235
    View loans »
    Philippines Loans Fundraising
  • $53,045,000
    Funds lent in using Kiva
  • 45.4
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A portion of Novembrita's Group's $550 loan helped a member to use as additional capital for her hog-raising business.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 3, 2010
Listed
Aug 2, 2010
Currency Exchange Loss:
Possible
Ended:
Jul 15, 2011