A loan of $400 helped a member to purchase raw ingredients needed to make products for sale.


Aracele Tapales Group's story

Aracele T., from the town of Lopez Jaena, is the 65-year-old leader of a two-member group loan offered by PMPC. While both members of the group receive an individual loan, each is responsible for paying back the loan of her fellow group member if she is delinquent or defaults.



Aracele is married and has three school-aged children. To make a living, Aracele owns and operates a business selling snacks and other delicacies in the local community. Engaged in her business for over three years, she earns approximately 1,000 PHP a month.



In 2008, Aracele joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Having fully repaid a previous loan of 5,000 PHP from PMPC that was used to purchase raw ingredients needed to make products for sale, she is now requesting a new loan of 3000 PHP to be used for the same purpose. This loan will be Aracele's third from PMPC, and 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 Partners to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.

In this group: Aracele, Nila



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