In 2004, Elsie joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Elsie has successfully repaid a previous loan of 20,000 PHP from PMPC. This previous loan was used to pay for services to increase crop yield. Elsie is requesting a new loan of 25,000 PHP, which will be used to purchase fertilizers such as manure. This loan will be the 13th loan taken out by Elsie from PMPC. She plans to use the additional revenue generated from the business to financially support members of her immediate 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 CooperativePaglaum 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.
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