A loan of $1,025 helped a member to invest in expanding the business.

Myrna's Group's story

Myrna A. is from the village of Canubay, Oroquieta City. She is 40 years old. Myrna is the group leader of a four-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.

Myrna is married. To make a living, Myrna owns & operates a general store. The main source of income for the business comes primarily from selling both food & daily use products in the local community. Myrna has been engaged in her business for over six years and earns approximately 6,000 PHP a month for these activities.

In 2000, Myrna joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Myrna has successfully repaid a previous loan of 14,000 PHP from PMPC. This previous loan was used to invest in expanding the business. Myrna is requesting a new loan of 14,900 PHP that will be used to invest in expanding the business. This loan will be the eighth loan taken out by Myrna from PMPC. She plans to use the additional revenue generated from the business to improve/expand 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 Partner to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.

In this group: Myrna, Cristina, Angelyn, Jacqueline

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