In 2003, Linda joined Paglaum Multi-Purpose Cooperative (PMPC) to gain much-needed access to financial services. As a result, she was able to engage in business activities and to thereby improve her family's standard of living. Notably, Linda has successfully repaid a previous loan in the amount of 20,000 PHP from PMPC. This prior loan was used as additional capital for her business. Linda is now requesting another loan, this time in the amount of 25,000 PHP ($575), which will be used to rent a parcel of land. This loan would be the eighth loan taken out by Linda from PMPC.
About PMPC: PMPC is one of the most progressive cooperatives in northwestern Mindanao. It reaches out to the rural poor using the Grameen model.
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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Success!! The loan was 100% repaid