Nestor P. is from the village of Solinog, Calamba Misamis Occidental. He is 54 years old. Nestor is married and has 2 adult children. To make a living, Nestor owns and operates a business venture in the retail sector, selling home products, such as shampoos, rice, milk, soaps and many others. Nestor has been engaged in his business for over 8 years and earns approximately 5,000 PHP a month for these activities.
In 2000, Nestor joined PMPC to gain access to financial services to help improve his living situation and ability to engage in business activities. Nestor has successfully repaid a previous loan of 25,000 PHP from PMPC. Nestor is requesting a new loan of 30,000 PHP which will be used to purchase additional stocks for his retail store (sari-sari). This will be the 6th loan taken out by Nestor from PMPC. He plans to use the additional revenue generated from the business to pay his 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.