Lucille F. is 42 years old and married with two children (seven and four years old). She is an active member of Coastal View Center, MFI group of Paglaum MPC and resides at Biasong, Lopez Jaena, Misamis Occidental.
Lucille’s husband works as a Security Guard at Cebu City. To supplement her husband’s income, Lucille engages in buying “Lahoy,” a shark fish. She extracts the liver into a squalene oil, and dries the meat. She sells the squalene oil to the manufacturer of squalene oil and the dried meat to their neighbors or to the market.
Lucille is now on her sixth loan, but she has no record of lapses in terms of loan repayments. We consider her a member in good standing (MIGS). She applied for a loan amounting to Php 20,000.00. This is mainly for the additional capital for the purchase of “lahoy”. Lucille estimates that this planned investment will have a margin of return of 35% of its total capitalization.
Lucille aspires always that her business will grow, eventually increasing her market and her income as well. That would help her lift her family’s standard of living, and she can support her children to complete their chosen field of education.
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.