A loan of $675 helped a member to purchase additional products to sell.

Maricel Elle Group's story

Maricel E. is from the village of Naga, Jimenez, Misamis Occdiental. She is 41 years old. Maricel is the group leader of a 2-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 their fellow group member if she is delinquent or defaults. The official name of this borrowing group is 'Maricel E. Group'.

Maricel is married and has 2 school-aged children. To make a living, Maricel owns & operates a general store. The main source of income for the business comes from selling a variety of different products in the local community. Maricel has been engaged in her business for over 10 years and earns approximately 1200 PHP a month for these activities.

In 2009, Maricel joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Maricel has successfully repaid a previous loan of 10,000 PHP from PMPC. This previous loan was used to to purchase additional inventory and as working capital. Maricel is requesting a new loan of 14,900 PHP which will be used to purchase additional products to sell. This will be the 3rd loan taken out by Maricel from PMPC. She plans to use the additional revenue generated from the business to improve/expand her business.

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: Maricel, Albina

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