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Lourdesita

Update on Lourdesita

Lourdesita is not only earning with her charcoal retailing business but also by operating their own farm. She has grown coconuts for many years as their main source of income. Her previous loan used for buying more stock of charcoal to sell was successfully repaid. To improve their farm, she took a new loan to cover farm fertilization costs. She hopes to improve her farm to have multiplied income to be used in the future.

Previous Loan Details

Lourdesita of Macabayao, Jimenez, Misamis Occidental, is a 61-year-old widow with three children. For years, she's been purchasing coco shells and producing charcoal for sale in the market. Last year, after joining GDMPC, she gained access to microfinance services, and she is now requesting an am... More from Lourdesita'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

  • $1175
    Average annual income
  • 305
    View loans »
    Philippines Loans Fundraising
  • $52,217,850
    Funds lent in using Kiva
  • 43.3
    Philippines Pesos (PHP) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,175 helped Lourdesita to cover farm fertilization costs.
66% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 30, 2014
Listed
Jul 29, 2014
Currency Exchange Loss:
Possible