A loan helped to purchase additional stock for sale.

Al's story

Al P. is from the village of Poblacion, Sapang Dalaga, Misamis Occidental. He is 40 years old, married, and has two school-aged children. To make a living, Al owns and operates a business venture in the retail sector running a general store. While not the only means for generating revenue, the main source of income for the business comes primarily from selling daily use products such as shampoo, soap, and toothpaste in the local community. Al has been engaged in his business for 10 years and earns approximately 10,000 PHP a month for these activities.

In 2007, Al joined PMPC to gain access to financial services to help improve his living situation and ability to engage in business activities. Al has successfully repaid a previous loan of 20,000 PHP from PMPC. This previous loan was used to to purchase additional products to sell. Al is requesting a new loan of 50,000 PHP which will be used to purchase additional inventory and working capital. This loan will be the third loan taken out by Al from PMPC. He plans to use the additional revenue generated from the business to improve/expand his business.

About PMPC:

Paglaum Multi-Purpose Cooperative (PMPC) is one of the most progressive cooperatives in northwestern 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.

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