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Mercilinda

Update on Mercilinda

Mercilinda is a hardworking entrepreneur who has a restaurant business in the Philippines.

She is borrowing PHP 50,000 through NWTF to purchase additional ingredients like meat, vegetables and canned goods for her restaurant business.

Mercilinda has been in this business for 30 years. She earns additional income from farming sugarcane.

She successfully paid back her previous loan, and she requested this additional loan to further build her business.

Mercilinda has been sustaining her business activities through her own efforts with the help of the loans from NWTF. She dreams of saving money to expand her business in the future.

Previous Loan Details

As a married mother of six children, Mercilinda works hard to support her family. She has a restaurant business in the Philippines, and also earns income from farming sugarcane and rice graining. Mercilinda is borrowing PHP 40000 through NWTF to buy ingredients for her restaurant business.

... More from Mercilinda's previous loan »

Additional Information

More information about this loan

On Friday November 8, 2013, Super Typhoon Haiyan made its way through Southeast Asia, causing substantial damage to homes and businesses in areas of the Philippines. Given the state of devastation following this storm, borrowers living and working in these areas may have difficulty making repayments on their loans, thus making their Kiva loans higher risk. More information >>

About Negros Women for Tomorrow Foundation

Negros Women for Tomorrow Foundation, Inc. (NWTF) is a non-governmental organization established with an aim to help women achieve self-sufficiency, particularly in the province of Negros Occidental’s low-income communities. The organization offers its clients a wide variety of products, including loans for micro-entrepreneurs, hospital income benefits, life insurance, accidental death benefits and more. Kiva lenders’ funds will be used to expand the reach of these products to women in low-income urban and rural communities.

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

  • $1175
    Average annual income
  • 293
    View loans »
    Philippines Loans Fundraising
  • $52,219,050
    Funds lent in using Kiva
  • 43.5
    Philippines Pesos (PHP) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,150 helped Mercilinda to purchase additional ingredients like meat, vegetables and canned goods.
68% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 30, 2014
Listed
Jul 25, 2014
Currency Exchange Loss:
Possible