Paul S. is from the village of Malintubuan, Labason, Zamboanga Del Norte. He is 46 years old. Paul is married. To make a living, Paul operates a specialized retail store. The main source of income for the business comes from selling daily-use products, such as shampoo, soap and toothpaste, in the local community. Paul has been engaged in his business for more than eight years and earns approximately 3,000 Philippine pesos (PHP) a month for these activities.
In 2009, Paul joined PMPC to gain access to financial services to help improve his living situation and ability to engage in business activities. Paul has successfully repaid a previous loan of 15,000 PHP from PMPC, a Kiva partner. This previous loan was used to purchase additional products to sell.
Paul is requesting a new loan of 50,000 PHP, which will be used to purchase additional products to sell. This will be the second loan taken out by Paul from PMPC. He plans to use the additional revenue generated from the business to improve/expand his business.
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.