Fundraising Status:closed
Risk Rating:
What to know about this Lending Partner
Impact Category:
General Financial Inclusion
Default Rate:
0%
Currency Exchange Loss Rate:
0.02%
Total Loans Raised:
$9,164,550
Loans at Risk Rate:
0%
Kiva Borrowers:
25,705
Delinquency Rate:
0%
Interests and Fees:
28% PY
Status Update - 14 May 2019
Kiva and Paglaum have agreed to end their partnership after nearly 11 years and more than $9m in loans raised. This partner has repaid its outstanding balance to Kiva in full, and these funds have been distributed to lenders. We thank Paglaum for the years of collaboration and wish them success in their future endeavors.
Partner Description:
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.
Today, PMPC offers microfinance services throughout the communities it serves, with special attention paid to borrowers with disabilities and other vulnerable groups. It also offers entrepreneurial training to help members get their businesses off the ground.
Becuase it works in many remote communities, PMPC provides access to solar energy so that adults can extend their productivity hours and children can study longer in the evening.
Kiva lenders’ funds are used to help PMPC members start and grow businesses, and also gives the cooperative room to expand its other services, including training, insurance, savings accounts and more.
As of October 2012, the organization had 49,000 members, including 29,000 microfinance group members.
PMPC Head Office and Hotel.