Angelita B.'s main source of income comes from selling peanut butter. She is 43 years old, married and has one school age child. They are from the village of Carangan, Ozamiz City, Misamis Occidental. Angelita has been in her business for over five years and earns approximately 10,000 Philippine pesos (PHP) a month.
In March 2007, Angelita joined PMPC to gain access to financial services to help improve her living conditions and enable her to engage in business activities. Angelita has successfully repaid a previous loan of 35,000 PHP from PMPC. Angelita is requesting a new loan of 20,000 PHP which will be used as additional capital for her peanut butter business. This will be her third loan from PMPC. 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.