Erlinda Marinay


Status: Paying Back

$850.00   Loan Amount
15% repaid

About the Entrepreneur

Name: Erlinda Marinay
Location: Montol, Ozamiz City, Philippines
Activity: General Store

About the Loan

Loan Amount: $850.00
Loan Use: to purchase additional products to sell and invest to expand her business
Repayment Term: 14 months - View details below
Lenders Repaid: At end of term
Currency Exchange Loss: Possible
Date Listed: Oct 1, 2009
Date Disbursed: Sep 11, 2009
Date Funded:Oct 21, 2009

About the Country

Country:Philippines
Avg Annual Income:$1,175.00
Currency:Philippines Pesos (PHP)
Exchange Rate:48.1496 PHP = 1 USD



Erlinda Marinay is from the village of Montol, Ozamiz City. She is 38-years-old. Erlinda is married and has two school-age children. To make a living, Erlinda owns and operates a retail "sari-sari" general store. While not the only means for generating revenue, the main source of income for the business comes primarily from selling daily use products such as shampoo, soap and toothpaste. Erlinda has been engaged in her business for over four years and earns approximately 8,000 PHP a month for these activities.

In 2007, Erlinda joined GDMPC to gain access to financial services to help improve her living situation and to increase her ability to engage in business activities. Erlinda has successfully repaid a previous loan of 25,000 PHP from GDMPC. Erlinda is requesting a new loan of 40,000 PHP which will be used to purchase additional products to sell as well as to invest in the expansion of her business. She plans to use the additional revenue generated from the business to pay the tuition fees for her children and to save for future emergencies.

About GDMPC:

GDMPC is one of the most progressive cooperatives in Mindanao, Philippines. It has four branches and three units offices covering the provinces of Zamboanga del Sur, Lanao del Norte and Misamis Occidental. Its membership is composed mostly of farmers, fisherfolks and small entrepreneurs.

*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.

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Journal entries for Erlinda Marinay


Loan has been disbursed
 
Entrepreneur: Erlinda Marinay
Location: Montol, Ozamiz City, Philippines

Thank you for your loan. It has been disbursed to Erlinda Marinay by Gata Daku Multi-purpose Cooperative (GDMPC) in Philippines. We are excited to watch this business grow. Over the 11 months of this loan, Gata Daku Multi-purpose Cooperative (GDMPC) will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Montol, Ozamiz City, Philippines
Oct 22, 2009
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Kiva Help Repayment Schedule for Erlinda Marinay

  Expected Repayments Actual Repayments Comments
December 2009 $0.00 $127.50  
November 2010 $850.00 Available Nov 1