Teresita Gay S. is from the village of Siare. She is 50 years old. Teresita Gay is widowed and has 2 adult-aged children. To make a living, Teresita Gay owns & operates a business venture in the retail sector operating a specialized retail store. While not the only means for generating revenue, the main source of income for the business comes primarily from selling seafood products including fish and shrimp in the local community. Teresita Gay has been engaged in his business for over 15 years and earns approximately 5,000 PHP a month for these activities.
In 2009, Teresita Gay joined PMPC to gain access to financial services to help improve his living situation and ability to engage in business activities. Teresita Gay has successfully repaid a previous loan of 50,000 PHP from PMPC. This previous loan was used to to purchase additional products to sell. Teresita Gay is requesting a new loan of 30,000 PHP which will be used to purchase additional products to sell. This loan will be the 2nd loan taken out by Teresita Gay from PMPC. She plans to use the additional revenue generated from the business to improve/expand the borrower's 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.