Mrs. Veronica S. is from the village of Bacolod, Ozamiz City. She is 36 years old, is married, and has one infant and two school-aged children.
Veronica owns and operates a sari-sari (variety) store selling home products. She has been engaged in her business for three years and earns approximately 2,000 PHP a month.
In 2009, she joined PMPC to gain access to financial services to help improve her living situation and her ability to engage in business activities. Veronica is requesting a loan of 5,000 PHP which will be used to purchase additional products for her retail store. This loan will be her first loan from PMPC. She plans to use the additional revenue generated from the business to improve the general living condition of her family and to save for future emergencies.
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.