Mrs. Jane F. is from the village of Clarin, Misamis Occidental. She is 52 years old. Jane is widow and has five adult-age children. To make a living, Jane owns and operates a mini-grocery business. She has been engaged in this kind of business for over 3 years and earns approximately 4,000 PHP a month for this activity.
In January 2009, Jane joined PMPC under pension loan program to gain access to financial services to help improve her living situation and ability to engage in business activities. Jane has successfully repaid a loan of 50,000 PHP. Jane is now requesting a new loan of 50,000 PHP which will be used to purchase additional grocery stocks. She plans to use the additional revenue generated from the business to improve the general living conditions of her 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.