A loan of $1,000 helped a member to purchase additional inventory and for working capital.

Malicse's Group's story

Maria M. is from the village of Tabo-o, Jimenez, Misamis Occidental. She is 60 years old. Maria is the group leader of a five 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.

Maria is married and has three adult children. To make a living, Maria owns and operates a "sari-sari" (general retail store) business which sells a variety of different products in the local community. Maria has been engaged in her business for over 30 years and earns approximately 10,000 PHP a month. In 2005, Maria joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Maria has successfully repaid a previous loan from PMPC. Maria is requesting a new loan of 5,000 PHP which will be used to purchase additional inventory and for working capital. This loan will be the 9th loan taken out by Maria from PMPC. She plans to use the additional revenue generated to improve 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: Maria, Ledilou, Elizabeth, Justiniana, Haydie

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Loan details