Cresenciana B. is from the village of Malibago. She is 33 years old, married and has 1 infant child. Cresenciana operates a family member's business in the retail sector, running a general store in the local community. She has been engaged in this business for over 5 years and earns approximately 4,500 PHP a month.
In 2009, Cresenciana joined PMPC to gain access to financial services to help improve her living situation and her ability to engage in business activities. She has successfully repaid a previous loan of 4,000 PHP from PMPC. This previous loan was used to purchase feed for her pigs. Cresenciana is requesting a new loan of 8,000 PHP, which will be used to purchase additional products for her sari-sari store and to purchase feed for her pigs. This will be the 3rd loan taken out by Cresenciana from PMPC. She plans to use the additional revenue generated to improve the general living conditions of her family.
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.