Leonora A. is from the town of Lopez Jeana. She is 40 years old and married with five school-aged children. To make a living, Leonora owns a general store selling a variety of different products. Leonora has been engaged in her business for over four years and earns approximately 4,500 PHP a month.
In 2007, Leonora joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. She has successfully repaid a previous loan of 15,000 PHP from PMPC and is requesting a new loan of 20000 PHP which will be used to purchase additional inventory and as working capital. This will be the sixth loan taken out by Leonora from PMPC. She plans to use the additional revenue generated from the business to improve the general living conditions of her family.
About PMPC: 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.