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Elgena

Update on Elgena

To make a living, Elgena owns and operates a plot of farmland, planting coconuts. She has been in this business for more than twenty years and she earns well from this. She had successfully repaid her previous loan used for farm inputs. Aside from her farm, she manages a retail business selling molded clay products in their village. Currently, she is requesting a new loan to buy additional clay products to sell. In the future, her plan is to save her profits in order to buy a car.

Previous Loan Details

Elgena is married with a child. She is 32 years old and lives in Biasong, Lopez Jaena, Misamis Occidental, Philippines. Elgena owns and operates a plot of farmland, planting coconuts to earn a living. She has been in this business for 20 years and earns PHP 7,000 each month. She requested a loan ... More from Elgena'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
  • 1402
    View loans »
    Philippines Loans Fundraising
  • $59,122,500
    Funds lent in using Kiva
  • 45.3
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $200 helped Elgena to buy additional clay products to sell.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 23, 2014
Listed
Feb 24, 2014
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2014