Cresencia is from the village of San Vicente Bajo, Oroquieta, Misamis Occidental. She is 58 years old, married and has two adult-aged children. To make a living, Cresencia runs a business venture in the food sector selling fruits and vegetables.
Cresencia has been engaged in her business for 10 years and earns approximately 5000 PHP a month for these activities. Cresencia joined PMPC to gain access to financial services to help improve her living situation and her ability to engage in business activities.
Cresencia is requesting a new loan of 20000 PHP with which she will purchase more fruits and vegetables for her fruits and vegetables business. This loan will be the sixth loan taken out by Cresencia from PMPC. She plans to use the additional revenue generated from the business to improve/expand her business.
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.
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.