To make a living, Agnes N. owns and operates a restaurant in her community. Her other source of income is from her present job in the local government unit in Sindangan. She is 36 years old, married and has three children. They are from the town of Poblacion, Sindangan. Agnes has been in her business for over one year and earns approximately 40,000 Philippine pesos (PHP) a month.
This year, Agnes joined PMPC to gain access to financial services to help improve her living conditions and enable her to engage in business activities. Agnes is an individual member of PMPC. She is requesting a new loan of 15,000 PHP which will be used to purchase products for the business. This will be her second loan from PMPC. She plans to use additional income to financially support immediate members of her 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.