Sunday, November 15, 2009
The business woman, through KIVA, that I sponsored a loan to has repaid it so now I can lend it out again.Here is some info on the next woman that I'm loaning money to:
Marivic Bulay-bulay is from the village of San Carlos, Tukuran Zamboanga Del Sur. She is 33 years old. Marivic is married and has 3 school-aged children. Marivic has been selling vegetables and spices in the local community for more than 5 years, and earns approximately 8,000 Philippine pesos (about $171 US) a month for these activities.
In 2008, Marivic joined GDMPC to gain access to financial services to help improve her living situation and ability to do business. Marivic has successfully repaid a previous loan of 10,000 pesos from GDMPC. This previous loan was used to purchase additional products to sell. Marivic is requesting a new loan of 12,000 pesos which will be used to expand the business. This loan will be the fourth loan taken out by Marivic from GDMPC. She plans to use the additional revenue generated from the business to improve the general living conditions of her family and pay the tuition of her children.
GDMPC is one of the most progressive cooperatives in Mindanao, Philippines.
It's neat to support these people in making their dreams come true and run successful businesses. I've been fortunate to have had my own businesses so it's nice to be able to help others to do the same. In these foreign countries a little bit of money can go a very long way in helping them to expand their business. Wonder if I could sign up my son for the KIVA program so he could learn how to repay his school loans ?