Update on LoretaLoreta operates a retail store that sells a variety of food and home-use products. Aside from this, she also raises pigs and sells them in town to earn more income.
Her previous loan used for this business was successfully repaid.
She plants bananas and variety of vegetables in her backyard, knowing this gives produce in return. She took a new loan recently to buy fertilizer. She plans to use the additional revenue generated from the loan as a reserve for future emergencies.
Previous Loan DetailsLoreta, a 58-year-old widow and mother of three children, has resided for over 30 years in Salimpono, Panaon, Misamis, Occidental. She has made a living operating a retail store that sells a variety of food and home-use products. She earns PHP 5,000 a month from this business. Aside from the… More from Loreta's previous loan »
About GDMPCGata 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.
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