Mrs. Belen M. is from Barangay of Migcanaway, Tangub City, Misamis Occidental. She is 38 years old, married to Danilo M. and blessed with 4 children all of are now school age. To make a living, she presently manages an electronic repair shop business. She is also receiving support from the salary of her husband as an overseas seaman. She’s been engaged in this kind of electronic repair shop business for 2 years already. She is earning an average amount of not less than PHP 1,500.00 from the business.
Just this year, Belen joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Belen as a newly recognized member of Paglaum MPC under the Regular Loan Program and is now requesting a loan of PHP 50,000.00 as her 1st loan which will be used for the payment of the tuition fees for her children and the remaining amount for pocket money for her husband who is back working abroad. She plans to use the additional revenue generated from the business to improve the general living conditions of her family especially in meeting their basic needs, savings for future use, loan repayments, children’s education and possible business expansions.
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.