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Maricel
This 40-year-old member from Palayan, Aloran, Misamis Occidental is expanding her business with a meager capital of PHP 3,000. Maricel D. J. has 5 children and has received various loans from Paglaum Multi-Purpose Cooperative, being a member for almost 8 years. Her 1st loan was used in fish vending and ran for 7 years. She got a micro-housing loan for the completion of their home. Her husband manages a blacksmithy and repair workshop where the capital was also financed by Paglaum MPC.



All these loans were repaid in a timely manner, and Maricel remains until present a member in good standing. The loan windows of Paglaum MPC helped the couple send their children to school. Recently, Maricel is hooked on the idea of putting up a little "sari-sari" (variety) store. She thinks their daily needs can be supplied by the income from the store. She said it's not a losing battle facing everyday hardships, having her husband by her siD.. And she is truly thankful to Paglaum MPC for keeping them company in all their financial needs. What they focus on is taking care of their existing businesses.



Maricel has applied for a loan in the amount of PHP 40,000 which shall be used for expanding their blacksmith business. A portion of the amount will be for her little store and a fraction will be for the educational needs of her daughter who is in college.



In the future, the couple wishes to operate a real grocery store and wants to acquire a "videoke" machine. They aspire to support their children through their chosen courses and until they establish their own careers. Maricel said all the reason for their sacrifices is their children.

Additional Information

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.

About Philippines

  • $1175
    Average annual income
  • 243
    View loans »
    Philippines Loans Fundraising
  • $53,045,000
    Funds lent in using Kiva
  • 49.0
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $825 helped Maricel additional capital for blacksmith, stock for "sari-sari" (variety) store & education of her children.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 27, 2008
Listed
Dec 19, 2008
Currency Exchange Loss:
Covered
Ended:
Apr 15, 2010