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Merceluz Tagama's Group
In this Group: Merceluz, Venus, Eden
Merceluz T. is from Bacolod, Ozamiz City. She is 37 years old, married, and has 5 school-aged children. Merceluz is the leader of a three-member loan group sponsored by PMPC. Although each member receives an individual loan, they are all responsible for repaying the loans of their fellow group members if someone is delinquent or defaults. The official name of this borrowing group is Merceluz T.’s Group.

To make a living, Merceluz buys and sells ready to wear clothing and other dry goods. She sells to her neighbors and friends. She has been engaged in this business for eight years and earns approximately 1,000 PHP a month.

In 2009, Merceluz joined PMPC to gain access to financial services to improve her living situation and her ability to engage in business activities. She has successfully repaid a previous loan of 10,000 PHP from PMPC. She is now requesting a new loan of 10,000 PHP which will be use to purchase more dry goods to sell. This will be her 4th loan from PMPC. She plans to use the additional revenue generated from the business to improve her family's living standards.



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
  • 1085
    View loans »
    Philippines Loans Fundraising
  • $57,648,050
    Funds lent in using Kiva
  • 43.8
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A portion of Merceluz Tagama's Group's $850 loan helped a member to purchase more dry goods to sell.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 29, 2010
Listed
Dec 14, 2010
Currency Exchange Loss:
Possible
Ended:
Dec 15, 2011