Elizabeth C. is from Bañadero, Ozamiz City, Misamis Occidental. She is 50 years of age and a widow. (Her husband passed away in April, 2010.) She has four children, three of whom are working and one is still in college. Elizabeth has an eatery in her house which is near a college. She also earns income from renting rooms and has some support from her working son and daughters. Elizabeth has been engaged in this kind of business for 13 years already and earns approximately 6,000 PHP a month from her eatery and room rentals.
In February 2006, Elizabeth joined PMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Elizabeth has successfully repaid a previous loan of 5,000 PHP from PMPC. She is now requesting a new loan of 15,000 PHP which will be used to add to her business capital. This will be the third loan taken out by Elizabeth from PMPC. She plans to use the additional revenue generated from the business to improve the general living conditions of her family, savings for future use, and for future business expansion.
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 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.