A loan of $150 helped to invest in expanding the business.

Teressa's story

Teressa C. is from the village of Gango, Ozamiz City, Misamis Occidental. She is 41 years old. Teressa is married and has six school-aged children. To make a living, Teressa owns & operates a business making & selling ice candy. While not the only means for generating revenue, the main source of income for the business comes primarily from preparing and selling ice candy. Teressa has been engaged in her business for over one year and earns approximately 1200 PHP a month for these activities.

In 2007, Teressa joined GDMPC to gain access to financial services to help improve her living situation and ability to engage in business activities. Teressa has successfully repaid a previous loan of 5000 PHP from GDMPC. Teressa is requesting a new loan of 7000 PHP, which will be used to invest in expanding the business. This loan will be the fifth loan taken out by Teressa from GDMPC. She plans to use the additional revenue generated from the business to improve the general living conditions of her family.

About GDMPC:

GDMPC is one of the most progressive cooperatives in Mindanao, Philippines. It has four branches and three unit offices covering the provinces of Zamboanga del Sur, Lanao del Norte and Misamis Occidental. Its membership is composed mostly of farmers, fisherfolks and small entrepreneurs.

*Note: To maximize efficiency and reduce costs, this loan was posted using a template to automate the translation by Kiva. Given that manual translation of entrepreneur profiles is costly, Kiva created this template for our Field Partner to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.

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