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Teressa

Update on Teressa

Teressa is from Gango, Ozamiz City. She is 47 years old. Teressa is married and has six children. To make a living, Teressa owns and operates a farming business. She plants and harvests bananas and vegetables for sale. Teressa has been in her business for five years and earns 4,000 Philippine Pesos (PHP) a month for these activities.

In 2009, Teressa joined GDMPC. She is requesting a new loan of 19,500 PHP, which she will use to purchase additional seeds, seedlings, and young crops to grow. She plans to use the additional revenue generated from the business to purchase an another lot, so that she may expand her farm.

Previous Loan Details

Teressa is from Gango, Ozamiz City. She is 43 years old. Teressa is married and has 5 children. To make a living, Teressa owns and operates a banana production business. Teressa has been in her business for 6 years and earns 20,000 PHP a month for these activities. In 2008, Teressa joined GDMPC.… More from Teressa's previous loan »

Additional Information

About GDMPC

Gata Daku Multi-Purpose Cooperative (GDMPC) was founded in 1992 by 32 farmer-members to empower people by providing livelihood opportunities and other support services. Today, it has over 15,000 members located in upland, lowland and coastal regions of the Philippines, and offers credit, savings, education, and various social services.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Philippines

  • $1175
    Average annual income
  • 502
    View loans »
    Philippines Loans Fundraising
  • $51,053,400
    Funds lent in using Kiva
  • 41.1
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $475 helped Teressa to purchase additional seeds, seedlings, and young crops to grow.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 16, 2013
Listed
May 24, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2013