Cecilia O. is 52 years old, married and has two adult-aged children. She is from the village of Poblacion, Sibutad. To make a living, Cecilia is engaged in the agriculture sector particularly in planting assorted crops to sell. She has been engaged in her business for 20 years and earns a monthly net income of 5,000.00 PHP.
In 2010, Cecilia joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Cecilia has successfully repaid a previous loan of 3,000 PHP from PMPC. This previous loan was used as additional capital for her business. Cecilia is requesting a new loan of 40,000 PHP which will be used to redeem the pawned land. This loan will be the 2nd loan taken out by Cecilia from 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.