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Nicolen V. is 52 years old, married, and has one school-aged child. He is from the village of Poblacion, Sapang Dalaga. To make a living, Nicolen is engaged in the retail sector running a general store. Despite close competition in the market he was able to manage his business for more than two years and earned a monthly net income of 3500 PHP. The secret of his success came from being hard-working and maintaining his good customer care.

In 2010, Nicolen joined PMPC to gain access to financial services to help improve his living situation and ability to engage in business activities. Nicolen is requesting his 1st loan of 15,000 PHP which will be used to purchase new stock for his existing business. He plans to use the additional revenue generated from his business to improve the general living conditions of his family.

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.

Additional Information

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.

About Philippines

  • $7,000
    Average annual income
  • 467
    View loans »
    Philippines Loans Fundraising
  • $69,677,850
    Funds lent in using Kiva
  • 43.4
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $350 helped Nicolen to purchase new stock for the store.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Feb 10, 2011
Mar 4, 2011
Currency Exchange Loss:
Sep 15, 2012