Flor Y. is from the village of Plaridel Misamis Occidental. She is 40 years old. Flor is married and has 4 adult children. Flor owns & operates a fishing business. The main source of income for the business comes from harvesting & selling ocean-caught fish in the local community. Flor has been engaged in her business for over 8 years and earns approximately 1,500 Philippine pesos (PHP) a month (about $33 US) for these activities.
In 2008, Flor joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business. Flor successfully repaid a previous loan of 10,000 PHP from PMPC. This previous loan, her second, was used to to purchase additional fish to sell. Flor is requesting her third loan of 15,000 PHP which will be used to purchase additional fish to sell. 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.