A loan of $1,000 helped a member as additional capital for rice production.

Lary's Group's story

Lary B. is from the village of Magsaysay, Baliangao. She is the leader of a four-member group loan offered by Kiva partner, PMPC. While each member of the group receives an individual loan, they are collectively responsible for paying back the loans of their fellow group members if someone is delinquent or defaults.

Lary is 42 years old, married, and has three school-aged children. To make a living, Lary has a retail business selling dry goods (rice). The main source of income for the business comes from selling her own harvested rice. Lary has been engaged in her business for over three years and earns approximately 5,000 PHP per month from these activities.

In 2004, Lary 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 a previous loan from PMPC. Lary is requesting a new loan of 14,900 PHP, which will be used as additional capital for rice production. This loan will be her seventeenth from PMPC. She plans to use the additional revenue generated from the business to improve her family's general living conditions.

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: Lary, Magdalina, Leonora, Rosita

Loan details

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Loan details