A loan of $800 helped a member to invest in expanding the business.

Phebe Potutan Group's story

Phebe P. is from the village of Mansabay Bajo. She is 39 years old. Phebe is the group leader for a two-member group loan offered by PMPC. While each member of the group receives an individual loan, they are each responsible for paying back the loan of the other group member, if the other one is delinquent or defaults.

Phebe is married and has four school-age children. To make a living, Phebe owns and operates a fishing business. The main source of income for the business comes from harvesting and selling ocean-caught fish in the local community. Phebe has been engaged in her business for over 5 years, and she earns approximately 3,000 PHP a month for these activities.

In 2006, Phebe joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Phebe has successfully repaid a previous loan of 15,000 PHP from PMPC. This previous loan was used to purchase fishing equipment including hooks and nets. Phebe is requesting a new loan of 20,000 PHP, which will be used to invest in expanding the business. This loan will be the sixth loan taken out by Phebe 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: Phebe, Carmencita
*not pictured

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