Teofy is from the village of Dullan, Aloran Oroquieta City. She is 45 years old. Teofy is married and has three school-aged children. To make a living, Teofy owns and operates a sari-sari (variety) store. Teofy has been in this business for about six years and earns approximately 3,000 PHP a month.
In 2004, Teofy joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Teofy has successfully repaid her previous loan of 12,000 PHP. Teofy is requesting a new loan of 14,900 PHP which will be used for her sari-sari store. This loan will be Teofy's eighth loan from PMPC. She plans to use the additional revenue generated from the business to financially support her family.
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. Because manual translation of entrepreneur profiles is costly, Kiva created this template so its Field Partners could 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.