Mrs. Silveriana C. is from the Barangay of Labuyo, Tangub City, Misamis Occidental. She is 49 years of age and a widow. She is blessed with four children, three of whom are now already adults and one is still a teenager. To make a living, she is presently engaged in operating a mini carenderia and snack vending activity. She is also receiving regular support from her children in terms of some basic and immediate needs. She’s been engaged in this kind of service activity for 5 years already and earns approximately Php3,000.00 a month from this business activity.
In the year 2008, Silveriana joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Silveriana, as an active member of PMPC under the PDP-LP Program, a microfinance program that reaches out to rural communities, has successfully repaid a loan amount of Php5,000.00. She is requesting a loan amount of Php5,000.00 as her 7th loan availment to be used for an existing mini carenderia and snack vending business. She plans to use the additional revenue generated from the business to improve the general living conditions of her family, especially in meeting their basic needs, saving for future use, loan repayments, her child’s education, 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.