More microfinance loans to the Philippines

Felicino Sara in the Philippines

Felicino Sara in the Philippines

In our team effort to raise microfinance loans for the Philippines, which were hard hit by the recent typhoons, we are raising $5 per comment left on our kickoff post. Our action runs until October 31.

Apart from fundraising, we continue to allocate new loans to entrepreneurs in the Philippines who will use the funds to revive and expand their livelihood.

Diane, one of our Kiva Lenders’ team, stepped forward and helped me out. She already allocated 25 loans for a total of $625 for this project. She committed to “buy” up to 200 comments on the post I mentioned before.

My Friend “E”, donated $300 to “buy” 60 comments, loans allocated in this post.

Elizabeth, a colleague and friend, who is also member of our Kiva team, donated $100, and as such “bought” 20 comments. Her loans are allocated in this post.

I donated $300, buying 60 comments, for 6 loans.

Our Philippines project has now allocated $1,325 already.

The most recent loan went to Felicino Sara in Trento, Agusan Del Sur, in the Philippines. Felicino is 58 years old and farms a small rice field a short distance away from his village. He hopes the farm will help him supply his family with the food, clothes and other basic things they need. He constantly attempts to surpass the size of his previous harvest.

He needed a loan of $175, refundable over 7 months, as an additional capital for his business. The loan will help him sustain his livelihood until the next harvest.

As small stake holder farmers are the “engine” of the economy in a country like the Philippines, we gave him a loan of US$50.

The loans we allocated in the past two days:

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5 comments to More microfinance loans to the Philippines

  • Evelyn Ventic

    How can I loan money. I have small business here at home and need some more capital. thanks

    • Peter

      Evelyn,

      You need to get in touch with a local Micro Finance partner. If you go onto Kiva.org, you will find, per country, the microfinance institutions they work with.
      Otherwise, just Google “Microfinance,

      best of luck!

      Peter

  • karen rosario

    how will i get a loan i want to have a business here in my place at philippines(quezon city).i want to hve a computer shop becoz i hve already a computer shop but i would like to add a ditional computer for my business.i hope u will grant my request thanbk you….

    • Peter

      Hi Karen,

      All of our microfinance loans go via Kiva. They work with local partners (e.g. in the Philippines) to provide loans to small business owners like your self. There are 7 Kiva partners active in the Philippines, check this list. One of the largest is ASKI.

      So you need to contact one of the Kiva partners and negotiate a microloan with them..

      Hope this helps! – Peter

  • [...] of our Kiva team, donated $100, and as such “bought” 20 comments. Her loans are allocated in this update. In the same update, I donated $300, buying 60 comments, for 6 [...]

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