A loan of $575 helped a member to purchase additional inventory and working capital.


Joyce Palanas Group's story

Joyce P. is from the village of Jimenez, Misamis Occidental. She is 23 years-old. Joyce is the group leader of a two-member group loan offered by Kiva partner PMPC. While each member of the group receives an individual loan, they are each collectively responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Joyce is married and has one baby. To make a living, Joyce owns and operates a general store. While not the only means for generating revenue, the main source of income comes from selling a variety of different products in the local community. Joyce has been engaged in her business for over two years and earns approximately 5,000 PHP a month. In 2010, Joyce joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Joyce is requesting a first loan of 15,000 PHP which will be used to purchase additional inventory and to provide working capital. She plans to use the additional revenue generated 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: Joyce, Myrna
*not pictured



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Loan details