Total loan: $550

Lolita Benavente's Group

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Ozamis-Cogon, Northern Mindanao, Philippines / Agriculture

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A loan helped to buy piglets to raise and later sell.

Lolita Benavente's Group's story

Lolita lives in the village of Cogon, Ozamiz City, Misamis Occidental. She is 35 years old, married, has three school-aged children and leads a five-person loan group affiliated with PMPC. While each member of Lolita B.’s group receives an individual loan, they are all responsible for paying back the loans of fellow group members if someone is delinquent or defaults. To make a living, Lolita owns and operates a hog-raising business. She has been in this line of work for more than two years and earns about 1,500 a month. In 2009, Lolita joined PMPC to gain access to financial services to help improve her life and ability to engage in business. She has successfully repaid a previous loan of 3,000 PHP from PMPC and plans to use her 4,000 PHP portion of this new group loan to buy more piglets to raise and later sell. She plans to use the additional revenue she earns from this loan to continue expanding her business. 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 Partners to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.