Update on EdgardoEdgardo's wife works as an agent for a private insurance company while he has a business buying and selling varieties of fish for household aquariums. He is newly engaged in this line of business. Edgardo has successfully repaid his previous loan, which was used for buying additional varieties of fingerlings. He has taken a new loan to cover the costs for maintenance and the purchase of tires and spare parts for his motorcycle used in transporting his products. Edgardo is hopeful that, through this business, he could combine the business of having fish in aquariums for decoration and for business. In the future, he plans to repair his house using the returns from his investments.
Previous Loan DetailsEdgardo is married with an only child and resides in Malaubang, Ozamiz City with his family. His wife works as an agent for a private insurance company while he has a business buying and selling varieties of fish for household aquariums. He is newly engaged in this line of business. He borrowed… More from Edgardo'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