Gracelyn G. is 35 years old, married and has one school-aged child. She is from the village of Calaran, Calamba. Gracelyn runs a grocery store. Out of this activity, she is able to earn a monthly net income of 4,000 PHP. She has been operating her business for more than 10 years.
In 2005, Gracelyn joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Gracelyn has successfully repaid a previous loan of 14,900 PHP from PMPC. This previous loan was used as additional capital for her business. Gracelyn is requesting her 11th loan of 35,000 PHP which will be used to purchase a parcel of land.
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.