Esabel Mangubal's Group
Esabel is married and has two school-aged children. To make a living, Esabel owns and operates a general store. While not the only means for generating revenue, the main source of income for the business comes primarily from selling a variety of different products in the local community. Esabel has been engaged in her business for more than five years and earns approximately 1,000 PHP a month for these activities.
In 2010, Esabel joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Esabel has successfully repaid a previous loan of 5,000 PHP from PMPC. This previous loan was used to to purchase additional products to sell. Esabel is requesting a new loan of 8,000 PHP, which will be used to invest in expanding the business. This loan will be the second loan taken out by Esabel from PMPC. She plans to use the additional revenue generated from the business to supplement her family's income.
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.
About Paglaum Multi-Purpose CooperativePaglaum 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.
390View loans »
Success!! The loan was 100% repaid