Nena joined Kiva partner PMPC to gain access to financial services to improve her living situation and ability to engage in business activities. She has successfully repaid a previous loan of 35,000 PHP from PMPC. This loan was used to purchase materials for their business. Now, Nena is requesting a new loan of 50,000 PHP, which will be used as additional capital for their business. They need additional capital because they have a lot of customers who are willing to make purchases but their capital is not sufficient.
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 CooperativePaglaum 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.
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Success!! The loan was 100% repaid