Mrs. Jane F. is from the Barangay of Poblacion 2, Clarin, Misamis Occidental in the Philippines. She is 51 years old, widowed and blessed with four children, all of whom are now adults with their own family. To make a living, she operates a sari-sari store. She also receives a monthly SSS Pension from her late husband. She’s been engaged in this business for ten years already and earns approximately Php5,000.00 a month from this business activity.
In 2009, Jane joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business. Jane is an active member of PMPC under the Pension Loan program, and has successfully repaid a loan amount of Php50,000.00. She is now requesting a loan amount of Php50,000.00 as her fifth loan to be used for additional capital for her existing sari-sari store business. She plans to use the additional revenue generated from the business to improve the general living conditions of her family, save for future use, make loan repayments, provide insurance, and pay for her grandchildren’s education and possible business expansion.
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.