A loan of $550 helped a member to invest in expanding the business.

Rosalie Sabondo Group's story

Rosalie S. is from the village of Biasong, Lopez Jaena, Misamis Occidental. She is 29 years old. Rosalie is the leader of a 3-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 Rosalie S..

Rosalie is widowed and has 2 school-aged children. To make a living, Rosalie owns & operates a manufacturing business. She manufactures & sells clay products to local businesses and community members. Rosalie has been engaged in her business for over 4 years and earns approximately 5,000 PHP a month for these activities.

In 2005, Rosalie joined PMPC to gain access to financial services to help improve her living situation and to have the ability to engage in business activities. Rosalie has successfully repaid a previous loan of 10,000 PHP from PMPC. This previous loan was used to purchase raw materials to manufacture additional products. Rosalie is requesting a new loan of 10000 PHP, which will be used to invest in expanding the business. This will be the 5th loan taken out by Rosalie from PMPC. She plans to use the additional revenue generated from the business to improve the general living conditions of the borrower's 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: Rosalie, Marie Fe, Rafaela

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