Mr. Edilberto G. is from the barangay (village or neighborhood) of Maquilao, Tangub City, Misamis Occidental. He is 58 years of age and married to Marosa G.. They were blessed with two children, both of whom are now working. To make a living, he operates a sari-sari (general) store and a little eatery business with his wife as his business partner. He is also receiving monthly support from one of his children, who is working abroad. He’s been engaged in this kind of business for 20 years already and earns approximately 10,000 Philippine pesos (PHP) a month from it.
Just this year, Edilberto joined PMPC to gain access to financial services to help improve his living situation and ability to engage in business activities. Edilberto, as a newly recognized member of PMPC under the Regular Loan Program, is now requesting a first loan of 20,000.00 PHP to be used as additional capital for his existing sari-sari store and little eatery business. He plans to use the additional revenue generated from the business to improve the general living conditions of his family, especially in meeting his basic needs, saving for a future use, loan repayments, insurance and possible business expansions.
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.