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Elena

Update on Elena

Elena owns and operates a retail business in the market to earn a living. She has been selling meat for many years and she earns well for the family and has successfully repaid her previous loan from GDMPC. She used that loan to improve her business.

Currently, she has taken out a new loan to purchase more meat and other items to sell. In the future, she wants to make improvements on her house and to improve the general living conditions of her family.

Previous Loan Details

Elena is 49 years old, married with four children. She lives in Bonifacio, Misamis Occidental. She owns and operates a food vending business to earn a living. She has been in her business for over seven years and earns 4,000 PHP every month. She joined GDMPC in the year 2010, and now she has requ... More from Elena'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
  • 1302
    View loans »
    Philippines Loans Fundraising
  • $57,866,175
    Funds lent in using Kiva
  • 45.1
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $225 helped Elena to purchase more meat and other items to sell.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 10, 2014
Listed
Jan 17, 2014
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2014
This photo was used before for a previous loan for Elena. It was first posted on Kiva on May, 2013. Learn More