Rodolfo Garcia


Status: Paying Back

$425.00   Loan Amount
75% repaid

About the Entrepreneur

Name: Rodolfo Garcia
Location: Parola, Tondo, Manila, Philippines
Activity: Entertainment

About the Loan

Loan Amount: $425.00
Loan Use: buying an additional videoke (karaoke) machine
Repayment Term: 8 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Jul 17, 2009
Date Disbursed: Jun 25, 2009
Date Funded:Jul 18, 2009

About the Country

Country:Philippines
Avg Annual Income:$1,175.00
Currency:Philippines Pesos (PHP)
Exchange Rate:48.0101 PHP = 1 USD



Rodolfo Garcia, 30, is married to Sherell Garcia, an overseas contract worker. They have two children, one in elementary school and one in preparatory school. They live in a congested community in Parola. Tondo, Manila.



Rodolfo runs a videoke (karaoke) rental and video game business which earns P 12,000 each month. He also sells gasoline in small amounts for tricycle use and distributes e-load (prepaid credit) for cellular phones. These side businesses provide additional income of P 1,200 a month.



He is going to use his loan to buy another videoke machine.


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Joan M
Portland, OR, US, KivaFriends.org
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Journal entries for Rodolfo Garcia


Loan has been disbursed
 
Entrepreneur: Rodolfo Garcia
Location: Parola, Tondo, Manila, Philippines

Thank you for your loan. It has been disbursed to Rodolfo Garcia by Center for Community Transformation Credit Cooperative (CCT) in Philippines. We are excited to watch this business grow. Over the 5 months of this loan, Center for Community Transformation Credit Cooperative (CCT) will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Parola, Tondo, Manila, Philippines
Jul 19, 2009
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Borrower Update
 
Entrepreneur: Rodolfo Garcia
Location: Parola, Tondo, Manila, Philippines

Dear Lenders,

Rodolfo is thankful to all of you for helping him expand his Videoke business. The current PhP 20,000 (US $425) loan he received was used to purchase another Videoke for a total of four units. Videoke is a favorite Filipino pastime wherein people put a five peso coin in the machine to sing along. Though business is quite slow this month because of the rainy season and slow economic activity, he believes that it will pick up in the beginning of the 4th quarter towards the end of the year.

In the spiritual aspect, Rodolfo was never used to reading the Bible. It is only through their weekly fellowship meeting* that he was introduced to the Word of God. “I can attest that since I studied the Scriptures and practice it in my life, my business really improved.” He is also thankful that through their weekly meeting, they are able to share each other’s problems. It comforts him that other members of the group care enough to listen and advise each other.

Rodolfo aims nothing more that for his business to grow. He prays that his savings will be enough so that he can someday send his children to college. He has two children who are presently in grade school.

* All CCT community partners / clients are organized into fellowship groups that meet on a weekly basis. A fellowship group is composed of 15 to 30 community partners. The fellowship groups gather each week to study the Word of God, build social capital, and pay MF loans.


Posted by Lala Yaun from Parola, Tondo, Manila, Philippines
Sep 29, 2009
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Kiva Help Repayment Schedule for Rodolfo Garcia

  Expected Repayments Actual Repayments Comments
September 2009 $88.55 $88.54 Repayment Received
October 2009 $70.84 $70.85 Repayment Received
November 2009 $70.84 $88.54 Repayment Received
December 2009 $88.55 $70.85 Repayment Received
January 2010 $70.84 Available Jan 1  
February 2010 $35.38 Available Feb 1