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Elsie Bienes Group
In this Group: Elsie, Teresita, Rosita
Elsie B. is from the village of Gumbil,Tudela, Misamis Occidental. She is 47 years old. Elsie is the group leader of a 3-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. The official name of this borrowing group is Elsie B. Group.

Elsie is married and has 2 adult-aged children. To make a living, Elsie owns and operates a business venture in the agriculture sector raising livestock. While not the only means for generating revenue, the main source of income for the business comes primarily from raising pigs for sale. Elsie has been engaged in her business for over 16 years and earns approximately 2800 PHP a month for these activities.

In 2008, Elsie joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Elsie has successfully repaid a previous loan of 13,000 PHP from PMPC. This previous loan was used to to purchase baby livestock to raise and sell. Elsie is requesting a new loan of 14,900 PHP, which will be used to purchase livestock feed and other supplies. This loan will be the sixth loan taken out by Elsie from PMPC. She plans to use the additional revenue generated from the business to supplement her family's income.

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 translation by Kiva. Given that manual translation of entrepreneur profiles is costly, Kiva created this template for our field partners 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
  • 377
    View loans »
    Philippines Loans Fundraising
  • $50,745,300
    Funds lent in using Kiva
  • 45.1
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A portion of Elsie Bienes Group's $825 loan helped a member to purchase livestock feed & other supplies.
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 6, 2010
Listed
Sep 16, 2010
Currency Exchange Loss:
Possible
Ended:
Jun 15, 2011