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Teresita

Update on Teresita

Teresita manages a crab production business in the village of Aurora, Zamboanga del Sur. Her husband goes fishing while she sells fish, shrimp and crab to earn a living. Her previous loans from GDMPC were successfully repaid and helped her to invest in her business. She borrowed a loan of 5,000 PHP to buy more variety of seafood for resale. She is always working toward her great ambition of improving the living situation of her family.

Previous Loan Details

Teresita is 48 years old, married, with two children. She lives in Aurora, Zamboanga Del Sur. To earn a living, she owns and operates a crab production in the local community. She has been with her business for over five years and earns PHP 3,000 every month. She joined Gata Daku Multi-Purpos... More from Teresita'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

  • $7,000
    Average annual income
  • 1438
    View loans »
    Philippines Loans Fundraising
  • $59,289,200
    Funds lent in using Kiva
  • 43.7
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $125 helped Teresita to buy more variety of seafood for resale.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 10, 2013
Listed
Sep 17, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 16, 2014
This photo was used before for a previous loan for Teresita. It was first posted on Kiva on Mar, 2013. Learn More