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Teresita's Group
In this Group: Teresita , Fe , Felomina, Evelyn, Rosalinda
Teresita is the leader of a five-person group. Although they borrow as a group, each member has her own business.

Teresita is married and has four children. She is 46 years old and lives in Kinangay Norte, Clarin, Misamis Occidental. She has had a manicure and pedicure business for the past 10 years.

Teresita has requested a loan of 12,000 PHP to purchase cement, lumber, sand and gravel for house repairs. She has been a member of PMPC for 10 months. In the future, she hopes to be successful in her 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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Philippines

  • $1175
    Average annual income
  • 895
    View loans »
    Philippines Loans Fundraising
  • $54,377,675
    Funds lent in using Kiva
  • 42.0
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A portion of Teresita's Group's $1,000 loan helped a member to purchase construction materials for house repairs.
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 10, 2012
Listed
Sep 6, 2012
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2013