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Mario's Group
In this Group: Mario, Edgar
Mario is 60 years old and lives in Butuay, Jimenez, Misamis Occidental. He is widowed with three children. Mario has a single motor for hire business and earns approximately PHP 3,000 each month doing this type of work. He has a requested a loan of 10,000 PHP to be used in purchasing spare motorcycle parts for repalcement.

Mario has been a member of PMPC for three years. In the future, Mario hopes to engage in other types of business. Mario is the leader of a two person group. Although they borrow as a group, each member has their own business.

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
  • 1561
    View loans »
    Philippines Loans Fundraising
  • $56,638,525
    Funds lent in using Kiva
  • 42.3
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A portion of Mario's Group's $375 loan helped a member to purchase spare motorcycle parts for replacement.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 28, 2012
Listed
Jul 13, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 15, 2013