Betty S. is from the village of Palilan Jimenez, Misamis, Occidental. She is 40 years old, separated from spouse and the mother of two school-aged children. To make a living, Betty runs a general store, selling a variety of products in the local community. Betty has been in business for over 14 years and earns approximately 7,000 PHP a month.
In 2005, Betty joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Betty has successfully repaid a previous loan of 5,000 PHP from PMPC. Betty is requesting a new loan of 6,000 PHP to purchase additional products to sell. This loan will be Betty's ninth from PMPC. She plans to use the additional revenue generated from the business to improve the general living conditions of her family.
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.
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.