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Rolando

Update on Rolando

Rolando grows and harvests rice as his family's main source of income to make a living. While awaiting the harvest, he also earns income from his motor transport services. He earns well from this and was able to successfully repay his previous loan from GDMPC, which was used for motor repair. Recently, he took a new loan from GDMPC to buy new tires for the vehicle. He plans to use the additional revenue generated for house renovations.

Previous Loan Details

Rolando, a 44-year-old father of two, is from Aguada, Ozamis City, Misamis Occidental where he cultivates rice for sale. While awaiting the harvest, he also earns income from his motor transport services in the local community. Recently, Rolando requested s loan of PHP 40,000.00 from GDMPC m... More from Rolando'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.

Tags

About Philippines

  • $7,000
    Average annual income
  • 1431
    View loans »
    Philippines Loans Fundraising
  • $59,148,800
    Funds lent in using Kiva
  • 45.2
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $775 helped Rolando to buy new tires for the vehicle.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 21, 2014
Listed
Jan 22, 2014
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2014
This photo was used before for a previous loan for Rolando. It was first posted on Kiva on Jun, 2013. Learn More