Cresencia D. is from the town of Lopez Jaena. She is 44 years old. Cresencia is married and has 7 adult children. To make a living, Cresencia owns & operates a business selling snacks & other delicacies in the local community. Cresencia has been engaged in her business for over 2 years and earns approximately 3,000 PHP a month for these activities.
In 2006, Cresencia joined PMPC to gain access to financial services to help improve her living situation and to engage in business activities. Cresencia has successfully repaid a previous loan of 5,000 PHP from PMPC. This previous loan was used to purchase additional products to sell. Cresencia is requesting a new loan of 6000 PHP to be used to purchase additional inventory & to add to working capital. This will be the 6th loan taken out by Cresencia 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 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.