$425 Microloan Helps Purchase Fishing Boat
Dr. Joe Johnson funds a microloan to Rodolfo, an entrepreneur in the Philippines.
Here is Rodolfo’s Story
Rodolfo is from the seaside community of Plaridel Philippines, and has been operating a fish vending business for a long time. As a husband and father to three children, he has managed to support his family through his fish vending business through a modest income of 15,000 Philippine Pesos. He decided to investigate how a microloan helps businesses.
Recently, he was looking to expand his business, and thus, requested a 20,000 Philippine Pesos loan from PMPC, an organization which he has been a part of for the last five years. The loan helps him buy a fishing boat, which he could then use to aid his fish vending business. Therefore, his income increases and makes it easier for him to support his family.
His loan was administered by the Paglaum Multi-Purpose Cooperative, an organization that was created to help the people in the lower income areas of the northwest of the country to achieve sustainability by addressing some of the economic and livelihood issues that they face. Founded in 1992, the organization strives to empower the community using a holistic approach, and build a self-reliant community that can expand its opportunities.
Kiva and Dr. Johnson share the same vision as PMPC, which is to provide microfinance services to people who would not be able to access capital in any other way. Kiva help to bring people together, while PMPC identify needy people on the ground that individuals like Dr. Johnson can provide with loans. These loans are helping to transform the lives of thousands of people across the globe, helping them to get out of the cycle of poverty that surrounds them.
The $425 loan that Rodolfo benefitted from was fully funded by Dr. Joe Johnson. That loan has enabled Rodolfo to buy the boat that he needed for his business, and he can now look forward to a higher income that will help to support himself and his family better.
If you would like to transform someone’s life in the same way, visit Kiva.org and take a look at the thousands of loans that have to be funded. By funding a microloan, you are helping someone take the first step in transforming not only their lives, but the lives of others in their community.