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Simplicio

Update on Simplicio

To make a living, Simplicio works on his corn farm. He has been in the farm business for many years, and he earns well from this to provide for the needs of his family. His previous loan, which he used in farming, was successfully repaid. He was able to sustain the farm and make better income in return. Recently, he took out a new loan to buy organic fertilizer. Simplicio is determined to provide the family with a better living in the future.

Previous Loan Details

To make a living, Simplicio is earning from his farm of corn. He has been in the farm business for 15 years and he earns well from this to provide for the needs of the family. He had expand his corn production business and, without hesitation, he borrowed a loan from Gata Daku Multi-Purpose C... More from Simplicio'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
  • 1457
    View loans »
    Philippines Loans Fundraising
  • $59,291,725
    Funds lent in using Kiva
  • 43.6
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Simplicio to buy organic fertilizer.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 1, 2014
Listed
Jul 20, 2014
Currency Exchange Loss:
Possible
Ended:
Mar 26, 2015
This photo was used before for a previous loan for Simplicio. It was first posted on Kiva on Jan, 2014. Learn More