In 1999, Rogelio joined Paglaum Multi-Purpose Cooperative (PMPC) to gain access to financial services. As a result, he was able to improve his standard of living and his ability to engage in business activities. Rogelio has already successfully repaid a previous loan from PMPC. Rogelio is now requesting another loan, this time in the amount of 50,000 PHP ($1,100), which will be used to purchase additional products to sell. Notably, this loan would be the eighteenth loan taken out by Rogelio from PMPC. He plans to use the additional revenue generated from the business as a result of the loan to improve the general living conditions of his family.
About PMPC: PMPC is one of the most progressive cooperatives in northwestern Mindanao. It reaches out to the rural poor using the Grameen microfinance model.
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