100%

funded

Total loan: $125

Candida's Group

Flag of Philippines
Sindangan-Lagag, Sindangan, Zamboanga Del Norte, Zamboanga Peninsula, Philippines / Retail

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A loan helped To purchase additional products to sell in her store.


Candida's Group's story

Candida L., age 40, is from the village of Lagag. Candida is the group leader of a two-member group loan offered by PMPC. While each member of the group receives an individual loan, each member is also responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Candida is married and has four children. To make a living, Candida owns and operates a general store, selling a variety of different products in the local community. Candida has been engaged in her business for over a year and earns approximately 6,000 PHP a month. In 2008, Candida joined PMPC to gain access to financial services. Her goal was to help improve her living situation and increase her ability to engage in business activities. Candida has successfully repaid a previous loan of 5,000 PHP from PMPC. This previous loan was used to purchase additional products to sell. Candida is requesting a new loan of 3,000 PHP, which will also be used to purchase additional products to sell. This loan will be the fourth loan taken out by Candida from PMPC. She plans to use the additional revenue generated from the business to financially support immediate members of her family. 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.