A loan of $700 helped to purchase additional products to sell.

Teresita Gay's story

Teresita Gay S. is from the village of Siare. She is 50 years old. Teresita Gay is widowed and has 2 adult-aged children. To make a living, Teresita Gay owns & operates a business venture in the retail sector operating a specialized retail store. While not the only means for generating revenue, the main source of income for the business comes primarily from selling seafood products including fish and shrimp in the local community. Teresita Gay has been engaged in his business for over 15 years and earns approximately 5,000 PHP a month for these activities.

In 2009, Teresita Gay joined PMPC to gain access to financial services to help improve his living situation and ability to engage in business activities. Teresita Gay has successfully repaid a previous loan of 50,000 PHP from PMPC. This previous loan was used to to purchase additional products to sell. Teresita Gay is requesting a new loan of 30,000 PHP which will be used to purchase additional products to sell. This loan will be the 2nd loan taken out by Teresita Gay from PMPC. She plans to use the additional revenue generated from the business to improve/expand the borrower's 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.

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