Mrs. Lerica M. is from the village of Ospital, Aloran. She is 49 years old. She is married and blessed with three adult-aged children. She owns and operates a business selling a variety of food products in the local community. She earns a monthly net income in the amount of 3,000 PHP from this business and receives a remittance from her daughter abroad in the amount of 10,000 PHP monthly. In 2000, she joined PMPC to access the programs and services of the COOP. She's availing a new loan in the amount of 50,000 PHP, which will be used for additional capital of her existing business (a sari-sari store) and for housing renovation.
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.