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Susan

Update on Susan

Susan owns and manages a bakery, making assorted breads and cakes for sale. She has been in this business for years.

Susan had successfully repaid her previous loan, which she used to buy ingredients; she was able to sustain the business. Her products have a better taste, so many customers come back to buy more.

To cater to her clients demands, she took a new loan recently to purchase raw ingredients for baking.

Hopeful she will have enough to improve the business, to ensure a better source of income for the family in the future.

Previous Loan Details

Susan is a married woman with two children who lives in Catadman, Ozamiz City in the Philippines. To make a living, she owns and manages a bakery making assorted breads and cakes for sale. She has been in this business for seven years. Last year, she joined GDMPC and gained access to microfin... More from Susan'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
  • 1243
    View loans »
    Philippines Loans Fundraising
  • $57,800,425
    Funds lent in using Kiva
  • 43.7
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $825 helped Susan to purchase raw ingredients for baking.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 15, 2014
Listed
May 27, 2014
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014
This photo was used before for a previous loan for Susan. It was first posted on Kiva on Jun, 2013. Learn More