Cornelia T. is from the village of Casul in Sapang Dalaga, Misamis Occidental. She is 46 years old and married, and she has 3 school-aged children. To make a living, Cornelia owns and operates a general store where she sells daily-use products, such as shampoo, soap and toothpaste, in the local community. Cornelia has been engaged in her business for 10 years and earns approximately 7,000 PHP a month from these activities.
In 2004, Cornelia joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Cornelia has successfully repaid a previous loan of 50,000 PHP from PMPC. She used her previous loan to purchase additional products to sell. Cornelia is requesting a new loan of 50,000 PHP to purchase additional inventory and use as working capital. This will be Cornelia's 11th loan from PMPC. She plans to use the additional revenue generated from the business to improve/expand her business.
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
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.