Total loan: $700

Maribel Zumel Group

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Tudela-Dolores,Clarin, Northern Mindanao, Philippines / Retail

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A loan helped to purchase additional inventory and increase working capital.

Maribel Zumel Group's story

Maribel Z. is from the village of Dolores, Clarin, Misamis Occidental. She is 29 years old. Maribel is the group leader of a 4-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. The official name of this borrowing group is Maribel Z. Group. Maribel is married and has 3 school-aged children. She owns and operates a general store, selling a variety of different products in the local community. Maribel has been engaged in her business for over 3 years and earns approximately 2,000 PHP a month from it. In 2009, Maribel joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Maribel has successfully repaid a previous loan of 8,000 PHP from PMPC, which was used to to purchase additional products to sell. Maribel is requesting a new loan of 12,000 PHP which will be used to purchase additional inventory and increase working capital. This will be the 3rd loan taken out by Maribel from PMPC. She plans to use the additional revenue generated from the business to pay her children's tuition fees. 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.