In this story, our featured entrepreneur is an operator of fish traps locally known as “bunsod”. She is Mrs. Mercy A., 41 years of age, married and a resident of Maquilao, Tangub City. The couple was blessed with 6 children and most are now adults or teenagers. Only one is a minor dependent. Her husband is a fisherman and he maintains the “bunsod”. For 25 years, they’re been in this kind of business and have been able to sustained the family even in times of bad weathers and economic downfalls. At the present time they were earning an average net income of not less than P15,000.00. With excellent character and a good credit record, she was approved for the loan amount of P20,000.00.
This is her 7th cycle loan and will provide capital to purchase fishing nets for additional bunsod unit and for general repair and maintenance. The future profit of this loan will be used for their daily basic needs, loan repayments and savings for her children’s future, especially for their education. She hopes that someday all her children will become successful.
About PMPC: 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.