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Edgardo

Update on Edgardo

Edgardo'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 Details

Edgardo 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 borrow... More from Edgardo'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

  • $1175
    Average annual income
  • 262
    View loans »
    Philippines Loans Fundraising
  • $53,216,600
    Funds lent in using Kiva
  • 44.0
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $525 helped Edgardo to pay for maintenance, tires and spare parts.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 16, 2014
Listed
Jun 21, 2014
Currency Exchange Loss:
Possible
Ended:
Jan 25, 2015