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Florencio

Update on Florencio

Florencia owns and operates a tricycle transport service in order to make a living. Having operated this business for many long years he is now thinking of the possibilities for expansion. He had successfully repaid a previous loan he used for obtaining spare parts and accessories. Currently, he is requesting a new loan to purchase a vehicle to be used for expansion of his business. He plans to use the additional revenue generated from the business to improve the general living conditions of his family.

Previous Loan Details

Florencio is from Tinaclaan, Clarin, Misamis Occidental. He is 62 years old. Florencio is married and has three children. To make a living, he owns and operates a tricycle transport service. He has been in his business for 30 years and earns 8,000 PHP (Philippines pesos) a month from these activi... More from Florencio'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
  • 977
    View loans »
    Philippines Loans Fundraising
  • $53,516,825
    Funds lent in using Kiva
  • 43.7
    Philippines Pesos (PHP) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $475 helped Florencio to purchase a vehicle used for a tricycle transport service.
66% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 9, 2014
Listed
Jul 20, 2014
Currency Exchange Loss:
Possible
This photo was used before for a previous loan for Florencio. It was first posted on Kiva on Jan, 2013. Learn More