Lorena B. is from the village of Galas. She is 39 years old. Lorena is married and has four school-aged children. To make a living, Lorena operates a specialized retail store. The main source of income for the business comes from selling a variety of farm products in the local community. Lorena is just starting this business.
In 2009, Lorena joined PMPC, a Kiva partner, to gain access to financial services to help improve her living situation and ability to engage in business activities. Lorena has successfully repaid a previous loan of 3,000 Philippine pesos from PMPC. Lorena is requesting a new loan of 5,000 PHP, which will be used to purchase additional inventory and as working capital. This will be the second loan taken out by Lorena 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.
*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.