A loan of $900 helped a member to purchase additional goods to sell.


Malaque's Group's story

Loty M. is from the village of Tabo-o, Jimenez, Misamis Occidental. She is 73 years old and the 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. Loty is married and has 11 adult children. She has had a "sari-sari" — general store — for over five years, and earns approximately 5000 PHP a month.

In 2004, Loty joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. She has successfully repaid her previous loan from PMPC and is now requesting a new loan of 5000 PHP which will be used to purchase additional goods to sell. This loan will be the tenth loan taken out by Loty from PMPC. She plans to use the additional revenue generated from the business to supplement the family's income.

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: Loty, Nida, Analie, Relita
*not pictured



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