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Armando

Update on Armando

Armando, 54 years old, is married with three children. He lives in Poblacion 4, Clarin, Misamis Occidental, in the Philippines. Armando earns his living by planting and harvesting rice to sell. He has been in this business for many years. Each month, he earns PHP 15,000. Aside from farming, he operates a service-based business providing motor transportation to the local community. He has requested a loan of PHP 30,000 to purchase tires and cover repair and maintenance costs. In 2004, Armando joined GDMPC to gain access to financial services to help improve his living situation and his ability to engage in business activities. In the future, Armando wants to improve the general living conditions of his family.

Previous Loan Details

Armando, 53, is married with three children. He lives in Poblacion 4, Clarin, Misamis Occidental, in the Philippines. Armando earns his living by planting and harvesting rice to sell. He has been in this business for 20 years. Each month, he earns PHP 15,000. He has requested a loan of PHP 25... More from Armando'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
  • 341
    View loans »
    Philippines Loans Fundraising
  • $52,172,975
    Funds lent in using Kiva
  • 43.3
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $700 helped Armando to purchase tires and cover repair and maintenance costs.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Jun 14, 2013
Listed
Jun 24, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014