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Elvie

Update on Elvie

Elvie lives in Sumasap, Pana-on, Misamis Occidental with her children. For more than six years, the store has been doing well and it gives better cash inflows to her family. To improve the business, she took a new loan to purchase more grocery goods to sell. She plans to expand her store in order to gain more income for the family's needs.

Previous Loan Details

Elvie lives in Sumasap, Pana-on, Misamis Occidental with her children. For five years, she has run a general store selling goods in their local community to earn a living. She took a loan to buy additional stock like canned goods, noodles and spices. She plans to expand her store in order to g... More from Elvie'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
  • 1442
    View loans »
    Philippines Loans Fundraising
  • $59,148,800
    Funds lent in using Kiva
  • 43.3
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $475 helped Elvie to purchase more grocery goods to sell.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 8, 2014
Listed
Jul 28, 2014
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2015
This photo was used before for a previous loan for Elvie. It was first posted on Kiva on Jul, 2013. Learn More