Update on AngelAngel has been providing the services of carrying passengers and baggage to their destination for many years in order to earn a living. He earned enough from this that he was able to provide for his family, and he has successfully repaid his previous loans used for the business.
Currently, he took a new loan to cover repairs and maintenance costs. It is good to improve his services to gain more customers and profits. While saving a portion of his income for any future family emergencies, Angel plans to buy a new motorcycle to add to his business.
Previous Loan DetailsFrom the village of Gata Daku, Clarin, Misamis Occidental, Angel is 48, married, and has two children. He has been carrying passengers and baggage to their destination for many years in order to earn a living. Angel's previous loans, since repaid, were used for his vehicle, resulting in a… More from Angel's previous loan »
About GDMPCGata 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.
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Success!! The loan was 100% repaid