Febe B. is from the village of Sta. Filomena. She is 48 years old, married, and has 4 children. The first three are adult-aged while the youngest is school-aged. To make a living, Febe owns & operates a business venture in the retail sector running a general store. The primary source of income for the business comes from selling a variety of different products in the local community. Febe has been engaged in her business for over 1 year and earns approximately 3,500 PHP a month for these activities.
In 2007, Febe 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 14,900 PHP from PMPC. This previous loan was used to purchase additional inventory & working capital. Febe is requesting a new loan of 14,900 PHP, which will be used for the same purpose. This loan will be the 7th loan taken out by Febe from PMPC. She plans to use the additional revenue generated from the business to improve her business and to support the education of her youngest child.
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.