More microfinance loans to 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: