A loan of $400 helped a member to purchase raw ingredients needed to make products for sale.

Vilma's Group's story

Vilma D. is from the village of Dicoyong. She is 40 years old and is the group leader of this three-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.

Vilma is married and has six children. She owns and operates a business making and selling food, selling snacks and other delicacies in the local community. She has been engaged in her business for over five years and earns approximately 3,000 PHP a month.

In 2008, Vilma joined PMPC to gain access to financial services to help improve her living situation and her ability to engage in business activities. She has successfully repaid a previous loan of 3,000 PHP from PMPC. This previous loan was used to purchase additional inventory and used as working capital.

Vilma is requesting a new loan of 3,000 PHP which will be used to purchase raw ingredients needed to make products for sale. This loan will be her 4th from PMPC. She plans to use the additional revenue generated from the business to financially support immediate members 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: Vilma, Norma, Ma. Evel

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