A loan of $425 helped a member to purchase additional products to sell.


Honeylyn's Group's story

Honeylyn A. is from the village of Manla Sapang, Dalaga, Misamis Occidental. She is 31 years old. Honeylyn is the group leader of a 2-member group loan offered by GDMPC. While each member of the group receives an individual loan, they are 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 'Marigold'.

Honeylyn is married and has 3 school-aged children. To make a living, Honeylyn owns & operates a specialized retail store. While not the only means for generating revenue, the main source of income for the business comes from selling seafood products including fish and shrimp in the local community. Honeylyn has been engaged in her business for over 3 years and earns approximately 3000 PHP a month for these activities.

In 2010, Honeylyn joined GDMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Honeylyn has successfully repaid a previous loan of 5000 PHP from GDMPC. This previous loan was used to to purchase additional inventory and as working capital. Honeylyn is requesting a new loan of 9000 PHP which will be used to purchase additional products to sell. This will be the second loan taken out by Honeylyn from GDMPC. She plans to use the additional revenue generated from the business to supplement the family's income.

About GDMPC:

GDMPC is one of the most progressive cooperatives in Mindanao, Philippines. It has four branches and three unit offices covering the provinces of Zamboanga del Sur, Lanao del Norte and Misamis Occidental. Its membership is composed mostly of farmers, fisherfolk and small entrepreneurs.

*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: Honeylyn, Hizel
*not pictured



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