Loreta enjoys the privileges of being a member of the Paglaum Multi-Purpose Cooperative (PMPC). Now, she is applying for a loan of PHP 14,900 from the cooperative. This loan is intended to purchase construction/raw materials needed for her house renovation. The income from her business will be used to repay the loan.
Loreta dreams of nothing more than to have a decent living, a happy and healthy life with her family, and an adequate income from her business. She deeply wishes to continue to be a member in good standing with PMPC and to repay her obligations in a timely manner.
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.
About Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.
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Success!! The loan was 100% repaid