Jimmy M. is from the village of Sinaman, Dipolog City. He is 28 years old, married, and has no children. Jimmy operates a family member's business in the food sector, making and selling snacks and other delicacies in the local community. He has been engaged in this business for over a year and earns approximately $105 a month.
In 2009, Jimmy joined PMPC to gain access to financial services to help improve his living situation and his ability to engage in business activities. He has successfully repaid a previous loan of 15,000 PHP from PMPC. This previous loan was used to purchase raw ingredients needed to make products to sell.
Jimmy is requesting a new loan of 30,000 PHP which will be used to purchase additional products to sell. This will be his 2nd loan from PMPC. He plans to use the additional revenue generated to improve the general living conditions of his family.
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.