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Irenea Group
In this Group: Irenea, Carminda
Irenea is married with 3 children. She is 42 years old and lives in Mahayag. She has been selling dried fish to earn a living for the past 3 years, and earns PHP 4,000 each month. She has been a member of PMPC for 2 years. She is the leader of a 2 person group. Although they borrow as a group, each member of the group has her own business. Irenea has requested a loan of PHP 8,000 to purchase more dried fish to sell.

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
  • 1244
    View loans »
    Philippines Loans Fundraising
  • $57,895,900
    Funds lent in using Kiva
  • 43.5
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A portion of Irenea Group's $325 loan helped a member to purchase more dried fish to sell.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 22, 2011
Listed
Sep 24, 2011
Currency Exchange Loss:
Possible
Ended:
Mar 15, 2012