Betty M. is 29 years old and from the village of Biasong. She is married and has two infant children. To make a living, Betty operates a family member's business manufacturing clay products. The main source of income for the business comes from selling them to local businesses and community members. Betty has been engaged in her business for over one year and earns approximately 4,000 PHP a month for these activities.
In 2008, Betty 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 7,000 PHP from PMPC. This previous loan was used to to purchase raw materials to manufacture additional products. She is requesting a new loan of 10,000 PHP to purchase raw materials to manufacture more products. This loan will be Betty's second loan from PMPC. She plans to use the additional revenue generated from the business to improve her family's general living conditions.
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 Paglaum Multi-Purpose CooperativePaglaum 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.
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Success!! The loan was 100% repaid