A loan of $550 helped a member to purchase raw ingredients needed to make products for sale.


Virginia's Group's story

Virginia A. is from the village of Lapasan, Clarin, Misamis Occidental. She is 55 years old. Virginia is the group leader of a 5-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.

Virginia is married and has 4 adult children. To make a living, Virginia owns and operates a business making and selling food, primarily selling snacks and other delicacies, in the local community. Virginia has been engaged in her business for 7 years and earns approximately 3000 PHP a month for these activities.

In 2005, Virginia joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Virginia has successfully repaid a previous loan of 5,000 PHP from PMPC. Virginia is requesting a new loan of 7,500 PHP which will be used to purchase raw ingredients needed to make products for sale. This will be the 3rd loan taken out by Virginia from PMPC. 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 Partner to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.

In this group: Virginia, Carmilita, Marianeth, Maribel, Crisalyn
*not pictured



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