A loan of $1,250 helped a member to purchase additional products to sell.

Cornelia's Group's story

Cornelia O. is from the village of San Isidro. She is 47 years old. Cornelia 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.

Cornelia is married and has 3 school-aged children. To make a living, Cornelia owns & operates egg retailing & pig raising businesses.The main source of income for the business comes from selling eggs in the local community. Cornelia has been engaged in her business for over 6 years and earns approximately 5000 PHP a month for these activities.

In 2007, Cornelia joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Cornelia has successfully repaid previous loans from PMPC. Cornelia is requesting a new loan of 10,000 PHP which will be used to purchase additional products to sell. This will be the 6th loan taken out by Cornelia from PMPC. She plans to use the additional revenue generated from the business to improve the general living conditions 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.

In this group: Cornelia, Lilia, Vilma, Razel

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