Merlyn G. is from the village of Panalsalan. She is 38 years old. Merlyn is married and has 2 school-aged children. To make a living, Merlyn owns and operates a specialized retail store. The main source of income for the business is sales of daily use products such as shampoo, soap and toothpaste in the local community. Merlyn has been engaged in her business for over 4 years and earns approximately 5,000 PHP a month for these activities.
In 2004, Merlyn joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Merlyn has successfully repaid a previous loan of 15,000 PHP from PMPC. Merlyn is requesting a new loan of 20000 PHP which will be used to purchase additional products to sell. This loan will be the 7th loan taken out by Merlyn from PMPC. She plans to use the additional revenue generated from the business to pay her children's tuition fees.
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 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.