Florajaida is widowed and has 3 adult children. Florajaida owns & operates a specialized retail store. She sells a variety of products such as eggs, noodles, salt, sugar, soy sauce and cooking oil to the local community. Florajaida has been engaged in her business for over 3 years and earns approximately 10,000 PHP a month.
In 2008, Florajaida joined GDMPC to gain access to financial services to help improve her living situation and her ability to engage in business activities. Florajaida has successfully repaid a previous loan of 5,000 PHP from GDMPC. Florajaida is requesting a new loan of 10,000 PHP which will be used to invest in expanding the business. This loan will be the sixth loan taken out by Florajaida from GDMPC. She plans to use the additional revenue generated to improve the general living conditions of her family.
GDMPC is one of the most progressive cooperatives in Mindanao, Philippines. It has four branches and three units offices covering the provinces of Zamboanga del Sur, Lanao del Norte and Misamis Occidental. Its membership is composed mostly of farmers, fishermen 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.
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.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid