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Richel

Update on Richel

Richel owns and operates farmland. She plants and harvests corn for sale to earn a living. She has been farming for four years and earns well for the family. Aside from this, she also has a retail store in the village selling grocery goods.

With her determination to improve their lives, the couple decide to buy a motorcycle to use for transporting their farm produce. Since she had successfully repaid her previous loan used for farming, she is now requesting a new loan to buy new tires for her motorcycle used for carrying her farm produce.

Richel plans to use the additional revenue generated from the business to improve and expand her business.

Previous Loan Details

Richel is 23 years old, married with one child. She lives in Clarin, Misamis Occidental. She owns and operates farmland, planting and harvesting corn for sale to earn a living. She has been with her business for over two years and earns 6,000 PHP every month. She joined GDMPC in the year 2012 and... More from Richel'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
  • 1453
    View loans »
    Philippines Loans Fundraising
  • $59,251,750
    Funds lent in using Kiva
  • 44.3
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $250 helped Richel to buy new tires for her motorcycle used for carrying her farm produce.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 31, 2014
Listed
Apr 21, 2014
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014