With her good reputation in Barangay and her good credit repayment record, Mrs. R. was given the privilege to obtain a first loan of 5,000 PHP. She is now applying for a loan in the amount of 20,000 PHP to add to her capital for her sari-sari store. The future income from this loan will be used to meet the family's daily needs, for loan repayment and for savings. Mrs. R. is hoping that someday her children will finish their studies right up to college, for their good future.
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 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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