Lourdes A. is from the town of Lopez Jaena. She is 52 years old. Lourdes is married and has 3 adult-aged children. To make a living, Lourdes owns & operates a business venture in the food sector making & selling food. While not the only means for generating revenue, the main source of income for the business comes primarily from selling snacks & other delicacies in the local community. Lourdes has been engaged in her business for over 2 years and earns approximately 2,000 PHP a month for these activities.
In 2009, Lourdes joined PMPC to gain access to financial services to help improve her living situation and her ability to engage in business activities. Lourdes has successfully repaid a previous loan of 10,000 PHP from PMPC. This previous loan was used to to purchase raw ingredients needed to make products for sale. Lourdes is requesting a new loan of 12,000 PHP which will be used to purchase additional inventory & working capital. This loan will be the 3rd loan taken out by Lourdes from PMPC. She plans to use the additional revenue generated from the business to improve the general living conditions of the borrower's 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.