Paterna T. is from the town of Plaridel. She is 67 years old. Paterna is married and has 4 adult children. To make a living, Paterna makes and sells a variety of different foods in the local community. Paterna has been engaged in her business for over 3 years and earns approximately 1,000 PHP a month from these activities.
In 2004, Paterna joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Paterna has successfully repaid a previous loan of 15,000 PHP from PMPC. She used her previous loan was used to to purchase additional products to sell. Paterna is requesting a new loan of 20000 PHP which will be used to purchase additional inventory and use as working capital. This will be Paterna's 10th loan from PMPC. She plans to use the additional revenue generated from the business to improve her family's living conditions.
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.