100%

funded

Total loan: $825

Gerlita's Group

Flag of Philippines
Calamba, Misamis Occidental, Northern Mindanao, Philippines / Retail

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A loan helped To purchase additional stock for the store.


Gerlita's Group's story

Gerlita B. is from the village of Bunawan. She is 58 years old, married and has 3 adult-aged children. Gerlita 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. Gerlita owns and operates a general store. Gerlita has been involved in her business for over 11 years and earns approximately 2,300 PHP a month from it. In 2005, Gerlita joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Gerlita has successfully repaid a previous loan from PMPC. Gerlita is requesting a new loan, her 9th, of 14,900 PHP, which will be used to purchase additional stock for the general store. She plans to use the additional revenue generated from the business to improve her family's general living conditions. 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.