Teresita V. is a member in good standing from Katipa, Lopez Jaena, Misamis Occidental. She is sixty-one years old and has eight children. She is currently engaged in a fish-vending business and had only $10 for her start up capital. Amazingly, she manages her business well. Teresita would like Paglaum, one of Kiva's field partners, to finance her needed capital. She applied for a loan of $425 to buy more fish to sell and to help with the maintenance of her fishing boat. She wants to save for her old age and to live simply with her children around her.
About Paglaum Multi-Purpose Cooperative
Paglaum Multi-Purpose Cooperative (PMPC) was founded in 1992 by the beneficiaries, parents and staff of the Paglaum Community Development Foundation to address economic and livelihood activities for sustainability. The organization operates in the northwestern provinces of Mindanao and Visayas.
In the local vernacular, “paglaum” means “hope.” The initial foundation is dedicated to child development through a holistic approach. The goal is to build self-reliance and expand opportunity so the poorest of the poor can help themselves.