Alfredo D. is from the village of Baybay Liloy Zamboanga Del norte. He is 49 years old. Alfredo is married and has 3 school-aged children. To make a living, Alfredo owns & operates a business venture in the food sector making & selling food. While not the only means for generating revenue, the main source of income for the business comes from selling fried foods in the local community. Alfredo has been engaged in his business for over 5 years and earns approximately 7000 PHP a month for these activities.
In 2010, Alfredo joined PMPC to gain access to financial services to help improve his living situation and ability to engage in business activities. Alfredo has successfully repaid a previous loan of 30000 PHP from PMPC. This previous loan was used to purchase raw ingredients needed to make products for sale. Alfredo is requesting a new loan of 50000 PHP, which will be used to purchase raw ingredients needed to make products for sale. This loan will be the 2nd loan taken out by Alfredo from PMPC. He plans to use the additional revenue generated from the business to improve the general living conditions for 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.