Renelita D. is from the village of Banonong. She is 39 years old, is married and has two school-aged children. To make a living, Renelita owns and operates a service-based business. While not the only means for generating revenue, the main source of income for the business comes from providing passenger transportation services such as a motor cab to local community members. Renelita has been engaged in her business for over 10 years and earns approximately 3,000 PHP a month for these activities.
In 2008, Renelita joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. She has successfully repaid a previous loan of 4,000 PHP from PMPC. Renelita is requesting a new loan of 5,000 PHP which will be used for LTO registration and franchise renewal of the transportation unit used primarily in the business. This loan will be the fourth loan which she has taken out from PMPC. She plans to use the additional revenue generated from the business to improve her family's general living conditions.
Paglaum Multi-Purpose Cooperative (PMPC) is one of the most progressive cooperatives in north-western Mindanao. It reaches out to the rural poor using the Grameen model.
*Note: To maximize efficiency and reduce costs, this loan was posted using a template to automate the translation by Kiva. Given that manual translation of entrepreneur profiles is costly, Kiva created this template for our Field Partner to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.
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.