Update on Jon RexJon Rex has been an employee of a private company for more than four years, earning well to support his family. He joined GDMPC and he gained access to the micro-finance services of the cooperative. With his income, he was able to pay back his previous loan successfully.
Recently, he took a new loan to cover the cost of transportation licenses. In the near future, he plans to own a merchandise store in their village to improve their living conditions and to have a comfortable house to live in.
Previous Loan DetailsJon Rex is a 24-year-old living in Aguada, Ozamiz City. He has been an employee of a private company for three years, earning 10,000 PHP a month to support his family. He just joined GDMPC and has requested a loan of 15,000 PHP to purchase a transport vehicle to improve his transport business. In... More from Jon Rex'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