A loan of $500 helped a member to purchase more vegetables to sell.

Elizabeth Ponce's Group's story

Elizabeth P. is from Tinago, Ozamiz City. She is 60 years old, married, and has one adult child. Elizabeth is the leader of a three-member loan group sponsored by PMPC. Although each member receives an individual loan, they are all responsible for repaying the loans of their fellow group members if someone is delinquent or defaults. The official name of this borrowing group is Elizabeth P.’s Group.

To make a living, Elizabeth buys and sells vegetables. She has been engaged in this business for six years and earns approximately 5000 PHP a month.

In 2010, she joined PMPC to gain access to financial services to improve her living situation and ability to engage in business activities. She has successfully repaid a previous loan of 5000 from PMPC. She is now requesting a loan of 7,000 PHP which will be used to purchase more vegetables to sell. This will be Elizabeth's second loan from PMPC. She plans to use the additional revenue generated from the business to improve her family's living standards.

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.
About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults.

In this group: Elizabeth, Lady Myres, Estrella

Loan details

Lenders and lending teams

Loan details