A loan of $450 helped a member additional capital for Herbal Medicine.

Loreta Napuecas' Group's story

Loreta N. is from the Barangay of Catadman, Ozamiz City. She is 44 years old, married and has two adult children. Loreta is the group leader of a two-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.

To make a living, Loreta sells a variety of different herbal medicinal products in the local community. She has been engaged in this business for 10 years and earns approximately 5,000 Philippine pesos (PHP) a month.

In 2006, Loreta joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business. She has successfully repaid a previous loan of 12,600 PHP from PMPC. She is now requesting a new loan of 14,900 PHP, which will be used to purchase additional herbal products to sell. This loan will be the seventh loan taken out by Loreta from PMPC. She plans to use the additional revenue generated from the business to save as a reserve for her future emergencies.

About PMPC:
Paglaum Multi-Purpose Cooperative (PMPC) is one of the most progressive cooperatives in Northwestern Mindanao. It reaches 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: Loreta, Reynalda

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