Elizabeth T., age 50, is from the town of Sindangan. She is married and has five children. To make a living, Elizabeth works in a family member's specialized retail store, a business that sells clothing and shoe products in the local community. Elizabeth has been engaged in her business for over two years and earns approximately 10,000 PHP a month.
In 2007, Elizabeth joined PMPC to gain access to financial services. Her goal was to help improve her living situation and increase her ability to engage in business activities. Elizabeth has successfully repaid a previous loan of 10,000 PHP from PMPC. This previous loan was used to to purchase additional products to sell. Elizabeth is requesT. a new loan of 50,000 PHP, which will also be used to purchase additional products to sell. This loan will be the ninth loan taken out by Elizabeth from PMPC. She plans to use the additional revenue generated from the business to financially support immediate members of 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 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.