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Elma's Group
In this Group: Elma
Elma J. and her family lives in Tumana, Marikina City, on the eastern side of Metro Manila. She is 43 years old. Her husband Gil works as a company driver. They have two children, both of school age.

Elma owns and manages a bakery and a grocery store. She opened her first outlet seven years ago with only one assistant working at the oven. Now, her bakery employs ten bakers who rotate as store attendants as well. She earns at least $3000 a month from the combined operations of the bakery and the grocery store.

She has just finished repaying her previous loan with Kiva's field partner, the Center for Community Transformation (CCT) Credit Cooperative, so she applied for a new loan in the amount of P50,000 to cover the costs for the opening of her second bakery outlet. This is her fourth loan with the cooperative.

Elma believes that education would be the best gift she could give her children, so she and her husband are working hard hand-in-hand to provide the best education for their children.



About CCT

The Center for Community Transformation (CCT) is an organized Christian response against poverty and social injustice. This is carried out through the fusion of social development initiatives and evangelical mission in a uniquely Filipino context. It serves urban and rural poor communities throughout the Philippines, in pursuit of its desire to see changed lives, strong families, and transformed communities centered in the Lordship of Jesus Christ.

CCT is a member of the Five Talents family.

Additional Information

About the Center for Community Transformation

The Center for Community Transformation (CCT) is dedicated to the development of communities and lives via spiritual transformation and access to financial services. CCT offers loan products to address the needs of micro-entrepreneurs in the Philippines. The organization’s loan products include small business, education, and housing loans. CCT utilizes a community-based approach to provide a variety of non-financial services that include training and development programs, clinics, disaster relief operations, a low-cost medicine program, and social service programs. CCT offers a unique “Pavement Dweller” program designed to provide food, housing, and job training. CCT also provides education support services to the poorest groups in the Philippines. Find more information about CCT on their website or join their lending team.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Philippines

  • $7,000
    Average annual income
  • 1439
    View loans »
    Philippines Loans Fundraising
  • $59,280,625
    Funds lent in using Kiva
  • 48.8
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A portion of Elma's Group's $1,025 loan helped a member capital for the opening of another outlet.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 11, 2009
Listed
Aug 29, 2009
Currency Exchange Loss:
Covered
Ended:
Apr 15, 2010