A loan of $625 helped a member to invest in expanding the business.

Florajaida's Group's story

Florajaida R. is from the city of Labo Ozamiz City. She is 66 years old. Florajaida is the group leader of a 3-member group loan offered by GDMPC. 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.

Florajaida is widowed and has 3 adult children. Florajaida owns & operates a specialized retail store. She sells a variety of products such as eggs, noodles, salt, sugar, soy sauce and cooking oil to the local community. Florajaida has been engaged in her business for over 3 years and earns approximately 10,000 PHP a month.

In 2008, Florajaida joined GDMPC to gain access to financial services to help improve her living situation and her ability to engage in business activities. Florajaida has successfully repaid a previous loan of 5,000 PHP from GDMPC. Florajaida is requesting a new loan of 10,000 PHP which will be used to invest in expanding the business. This loan will be the sixth loan taken out by Florajaida from GDMPC. She plans to use the additional revenue generated to improve the general living conditions of her family.

About GDMPC:

GDMPC is one of the most progressive cooperatives in Mindanao, Philippines. It has four branches and three units offices covering the provinces of Zamboanga del Sur, Lanao del Norte and Misamis Occidental. Its membership is composed mostly of farmers, fishermen and small entrepreneurs.

*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: Florajaida, Alma, Josefa

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