Mrs. Josephine L. is from the barangay of Maningcol, Ozamiz City, Misamis Occidental. She is 44 years old, married to Jerito L., and blessed with 5 children, all of whom are now in college, high school, or elementary school. To make a living, she is presently employed as an insurance underwriter together with her husband as the area manager. They’re also engaged in the direct and network sales of fitness and wellness food supplements products. She has been employed for 3 years and has been in the direct and network selling business for 10 years. She earns an amount of not less than Php 10,000.00 per month from insurance sales and not less than Php 5,000.00 from their direct and network selling business.
In December 15, 2005, Josephine joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Josephine is an active member of Paglaum MPC under the Regular Loan Program, and has successfully repaid a loan amount of Php 50,000.00. She is now requesting a loan of Php 50,000.00 as her 3rd loan, which will be used as additional working capital for the insurance premium quota and for the food supplement direct and network selling business. She plans to use the additional revenue generated from the businesses to improve the general living conditions of her family, especially in meeting their basic needs, saving for future use, loan repayments, their children’s education, and possible future land acquisitions.
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.