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Marydel

Update on Marydel

Marydel is a 54-year-old widow with a child, living in Maningcol, Ozamis City.

In order to support her family, she entered into a buy-and-sell ready-to-wear (RTW) clothing business and she usually earns PHP 10,000 per month from this business. Her previous loan that was used for the business was successfully repaid.

With the help of Gata Daku Multi-Purpose Cooperative (GDMPC), Marydel is able to buy more RTW products to sell. Recently, she borrowed another loan of PHP 60,000 to add to her capital, to be able to buy more bundles of RTW products to sell. She is always hopeful of earning more money from the investments she provides for the business.

Marydel's future plan is to expand her business for better living conditions for the entire family.

Previous Loan Details

Marydel is a 53-year-old widow with a child living in Maningcol, Ozamis City. In order to support her family, she entered into a buy and sell of RTWs (ready to wear items) business eight years ago. She usually gets 10,000 PHP per month. With the help of GDMPC microcredit, Marydel is able to buy m... More from Marydel'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.

Tags

About Philippines

  • $7,000
    Average annual income
  • 1200
    View loans »
    Philippines Loans Fundraising
  • $57,777,750
    Funds lent in using Kiva
  • 43.1
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,400 helped Marydel to buy more bundles of RTW products to sell.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 4, 2013
Listed
Oct 14, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014
This photo was used before for a previous loan for Marydel. It was first posted on Kiva on Dec, 2012. Learn More