A loan of $350 helped to purchase additional inventory and use as working capital.

Alfredo's story

Alfredo S., from the village of Palilan, Jimenez, Misamis Occidental, is 75 years old, married, and has four adult-aged children. To make a living, Alfredo owns and operates a general store selling a variety of products in the local community. Engaged in his business for over 10 years, he earns approximately 5000 PHP a month.

In 2007, Alfredo joined PMPC to gain access to financial services to help improve his living situation and ability to engage in business activities. Having repaid his previous loan of 15000 PHP from PMPC that was used to purchase additional products to sell, he is requesting a new loan, his seventh, of 15000 PHP which will be used to purchase additional inventory and as working capital. Alfredo plans to use the additional revenue generated from the business to save as a reserve for future emergencies.

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 Partners to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.

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