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Ricardo

Update on Ricardo

Ricardo is married and has four children. He is 54 years old and lives in Romarate, Aurora, ZDS, Philippines. Ricardo used his last loan to purchase fertilizers, such as manure. His business is successful and he his taking a new loan to purchase additional seeds, seedlings & young crops to raise. In the future he hopes to be able to expand his business.

Previous Loan Details

Ricardo is married with four children. He is 54 years old and lives in Romarate, Aurora, ZDS: Philippines. To earn a living Ricardo operates a business venture, planting and harvesting corn to sell in the local community. He has been in business for three years. Each month, he earns 3,000 PHP ... More from Ricardo's previous loan »

Additional Information

About GDMPC

Gata 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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Philippines

  • $1175
    Average annual income
  • 244
    View loans »
    Philippines Loans Fundraising
  • $53,061,525
    Funds lent in using Kiva
  • 42.8
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,175 helped Ricardo to purchase additional seeds, seedlings & young crops to raise.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 22, 2012
Listed
Feb 29, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 15, 2012