A loan of $825 helped a member to purchase additional inventory & working capital.

Jovita Montealto Group's story

Jovita M. is from the village of Tinaclaan, Clarin, Misamis Occdiental. She is 59 years old. Jovita is the group leader of a 4-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.

Jovita is married and has 10 adult children. To make a living, Jovita owns & operates a general store selling a variety of different products in the local community. Jovita has been engaged in her business for over 5 years and earns approximately 4,000 PHP a month for these activities.

In 2008, Jovita joined PMPC to gain access to financial services to help improve her living situation and to have the ability to engage in business activities. Jovita has successfully repaid a previous loan of 14,500 PHP from PMPC. This previous loan was used to purchase additional products to sell. Jovita is requesting a new loan of 14000 PHP, which will be used to purchase additional inventory & working capital. This will be the 5th loan taken out by Jovita from PMPC. She plans to use the additional revenue generated from the business to financially support immediate members of the borrower's 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: Jovita, Joy, Milagros, Evangeline

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