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Teresa

Update on Teresa

Teresa is married, with five chldren living along with her in Clarin, Misamis Occidental.

She has had a rice field that is the family's main source of income. In 2007, she joined GDMPC, and her previous loan was successfully repaid.

She has also engaged recently in selling cosmetics products, like cologne, lotion, and shampoo. She plans to improve this business to earn more customers, so she has borrowed a new loan from GDMPC that she plans to use to purchase more beauty products to resell.

She wants to improve her family's living and to buy another rice field in the future.

Previous Loan Details

Teresa is 62 years old and married with 5 children. She lives in Clarin, Misamis Occidental. Teresa owns and operates farmland, planting and harvesting rice for sale in the local community to earn a living. She has been with her business for over ten years and earns 16,000 PHP every month. ... More from Teresa'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
  • 1236
    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 $425 helped Teresa to purchase more beauty products to resell.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Oct 3, 2013
Listed
Oct 26, 2013
Currency Exchange Loss:
Possible
Ended:
May 17, 2014