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Klein

Update on Klein

Klein runs a transportation service while working in a private institution to earn a living. He used his previous loan for licenses and repairs. With his income, his previous loan was successfully repaid. Recently, Klein has taken a new loan to finance house improvements. He hopes that in the future, he can provide better living conditions for his family.

Previous Loan Details

Klein is married and resides in Clarin, Misamis Occidental. He runs a transportation service to earn a living. His wife is a government employee and in addition to their income, he carries passengers and baggage in order to earn an income. He joined Kiva partner GDMPC in 2012 and now has borrowe... More from Klein'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.

About Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

Tags

About Philippines

  • $7,000
    Average annual income
  • 1291
    View loans »
    Philippines Loans Fundraising
  • $57,866,175
    Funds lent in using Kiva
  • 43.6
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $700 helped Klein to finance house improvements.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Jul 4, 2014
Listed
Jul 20, 2014
Currency Exchange Loss:
Possible
Ended:
Apr 18, 2015
This photo was used before for a previous loan for Klein. It was first posted on Kiva on Oct, 2013. Learn More