Ms. Corazon L. is from the Barangay (village) of Mayor’s Village, Lapasan, Clarin, Misamis Occidental. She is 30 years of age and still single and is shown with her niece.
Together with her mother as her business partner, Corazon is presently engaged in selling fried fish crackers: “chicharon” and “ampao” in local terms, sweetened fried rice in English. They have been engaged in this kind of business for ten years already, earning approximately Php 10,000 a month. Corazon also receives regular monthly support from her brother who is presently working abroad as a seaman.
In 2008, Corazon joined PMPC to gain access to financial services to help improve her living situation and her ability to engage in business activities. As an active member of PMPC under its Regular Loan program, she has successfully repaid a loan of Php 50,000.
Corazon is requesting the same loan amount of Php 50,000 as her 3rd loan to be used as additional capital for her chicharon and ampao business with the remaining amount used for a hog-fattening activity.
Corazon 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, as savings for future use, for loan repayments, insurances, 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.