Timon D. is from the village of Centro Napu, Tudela, Misamis Occidental. He is 42 years old. Timon is single. To make a living, Timon operates a family member's business venture in the services sector operating a service-based business. The main source of income for the business comes from providing space rental services to local community members. Timon has been engaged in his business for over 5 years and earns approximately 1,500 PHP a month from these activities.
In 2009, Timon joined PMPC to gain access to financial services to help improve his living situation and ability to engage in business activities. Timon has successfully repaid a previous loan of 10,000 PHP from PMPC. This previous loan was used to to invest in renovating the business.
Timon is requesting a new loan of 10,000 PHP which will be used to repair a transport vehicle used in the business. This loan will be the 2nd loan taken out by Timon from PMPC. He plans to use the additional revenue generated from the business to improve the general living conditions of his 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.