A loan of $825 helped a member to purchase additional products to sell.

Cynthia Servande Group's story

Cynthia Servande is from the town of Naga, Jimenez, Misamis Occidental, Philippines. She is 51 years old and the group leader of a 3-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. The official name of this borrowing group is Cynthia Servande Group.

Cynthia is married and has 2 school-aged children. To make a living, she owns and operates a general store, selling a variety of different products in the local community. She has been engaged in her business for over 20 years and earns approximately $115 a month for these activities.

In 2009, Cynthia joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. She has successfully repaid a previous loan of 14,900 PHP from PMPC. This previous loan was used to purchase new items to expand her product offering.

Cynthia is requesting a new loan of 14,900 PHP which will be used to purchase additional products to sell. This will be her 4th loan from PMPC. She plans to use the additional revenue generated from the business to financially support members of her extended 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: Cynthia, Alice, Lorena

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