A loan of $1,250 helped a member to buy additional products to sell.


Lourgen Magsayo's Group's story

Lourgen M., 30 years old, is from the village of Dimaluna, Ozamis City Misamis Occidental. She 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.

Lourgen is married and has 2 school-aged children. To make a living, Lourgen runs a general store where she sells a variety of different products in the local community. She has just started this business.

In June 2009, Lourgen joined PMPC to improve her living situation and ability to engage in business activities. She successfully repaid a previous loan of 10,000 PHP from PMPC. Lourgen is requesting her third loan, for 14,995 PHP, which she will use to purchase additional products to sell. She plans to use the additional revenue 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 Partners to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.

In this group: Lourgen, Melita, Apolinaria, Pablia
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