Victorina A. is from the village of Taboo, Jimenez, Misamis Occidental. She is 69 years old. Victorina is married and has two adult children. To make a living, Victorina owns & operates a retail store. While not the only means for generating revenue, the main source of income for the business comes primarily from selling daily use products such as shampoo, soap & toothpaste in the local community. Victorina is just starting this business.
In 2008, Victorina joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Victorina has successfully repaid a previous loan of 30,000 PHP from PMPC. This previous loan was used to renovate her residential house. Victorina is requesting a new loan of 35000 PHP, which will be used for the completion of her house renovation. This loan will be the second loan taken out by Victorina from PMPC. She plans to use the additional revenue generated from the business to improve the general living conditions of her family.
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 Partners 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.