A loan of $1,050 helped a member to purchase additional inventory and to use as working capital.

Lourdes Tagaloguin Group's story

Lourdes T. is from the village of Pan-ay, Clarin, Misamis Occidental. She is 43 years old and is the group leader of a six-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 Lourdes T. Group.

Lourdes is married and has three school-aged children. She owns and operates a business making and selling food, selling a variety of food products in the local community. She has been engaged in her business for over six years and earns approximately 4,000 PHP a month.

In 2009, Lourdes joined PMPC to gain access to financial services to help improve her living situation and her ability to engage in business activities. She has successfully repaid a previous loan of 5,000 PHP from PMPC. This previous loan was used to to purchase raw ingredients needed to make products for sale.

Lourdes is requesting a new loan of 9,000 PHP which will be used to purchase additional inventory and used as working capital. This loan will be her 2nd 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: Lourdes, Gilda, Cresilda, Gloria, Leonora, Calixta

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