Myrna Valencia

Status: Paying Back

$175	Loan Request Pre-Disbursed : Sep 24, 2009 Listed: Oct 12, 2009 Funded: Oct 13, 2009

93% repaid

About the Field Partner

Center for Community Transformation Credit Cooperative (CCT) administers this loan. Learn more

Field Partner:

Center for Community Transformation Credit Cooperative (CCT)

Field Partner Risk Rating:

(Learn more)

Fundraising Status:

Pilot

Time on Kiva:

7 months

Kiva Entrepreneurs:

471

Total Loans:

$179,700

Interest & Fees are Charged:

Yes (Learn more)

Portfolio Yield:	65%
Profitability (Return on Assets):	2%
Average Loan Size (% of Per Capita Income):	8%

Delinquency Rate:

0.95%

Default Rate:

0.00%

Currency Exchange Loss Rate:

0.00%

About the Country

Country:	Philippines
Avg Annual Income:	$1175
Currency:	Philippines Pesos (PHP)
Exchange Rate:	46.5300 PHP = 1 USD

About the Loan

Location:	Caloocan City, Philippines	Repayment Term:	6 months (more info)
Activity:	Cosmetics Sales	Repayment Schedule:	Monthly
Loan Use:	to purchase more cosmetics for her customers	Currency Exchange Loss:	Covered
		Default Protection:	Covered

Myrna Valencia is a 52-year-old mother of five. All her children are now grown-ups; two are in college and two others attend high school. Her husband Marcelino, 48, works as a technician. They live in a small house in Bagong Silang, Caloocan City.

Myrna owns a general store located in their house. She put this up five years ago. Just last year, she ventured into buying and selling cosmetic products and apparel thru the popular direct-selling schemes offered by prominent brands (Personal Collection, Avon, Sarah Lee, etc.) She earns at least P 4,500 a month from these combined business activities.

She has been with the Center for Community Transformation (CCT) Credit Cooperative for a year now. Now on her 6th loan, she has applied for a loan worth P 8,000 with the cooperative to purchase more cosmetic products for her customers. She will also use portions of the funds to purchase additional stocks for her store.

Myrna has been saving a lot of her earnings. She is looking forward to having other businesses soon.

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.

Lenders to this entrepreneur

bernard
New York, NY
United States

E. DAVID
Washington, DC
United States

Laurent D
Brussels,
Belgium

Germo
Lappeenranta,
Finland

Travis
New York, NY
United States

Baek
Buena Park, CA
United States

Steven
Baltimore, MD
United States

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Journal entries for Myrna Valencia

Loan has been disbursed Entrepreneur: Myrna Valencia Location: Caloocan City, Philippines Thank you for your loan. It has been disbursed to Myrna Valencia by Center for Community Transformation Credit Cooperative (CCT) in Philippines. We are excited to watch this business grow. Over the 3 months of this loan, Center for Community Transformation Credit Cooperative (CCT) will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.
Posted by from Caloocan City, Philippines Oct 14, 2009
Comment on this entry

Household Products and Low Blood Pressure Courtesy of Myrna Valencia Entrepreneur: Myrna Valencia Location: Caloocan City, Philippines Myrna used her entire loan to purchase inventory for her Personal Care direct selling business. She sells about 5,000 pesos ($106) worth of household cleaners and items through this business and earns 25% profit on most items. Myrna sells to customers, friends and relatives who live throughout her neighborhood. She also sells sugar and spices in her store for a similar profit margin. Myrna sells Personal Care products because, unlike Avon cosmetics, personal care soaps, cleaners and other products are highly consumable. Her only complaint is that sometimes payment from her customers is delayed. Like many CCT partners, Myrna has a sideline, or side job. She recently completed a medical reflexology course and will take blood pressure for her neighbors on Monday, Wednesday and Friday for 10 pesos ($0.22 USD). She also will provide massages for 150 to 200 pesos ($3.20 - $4.26 USD). During these mornings one of her daughters will watch her store. If you would like to support CCT borrowers, join our new lending team: http://www.kiva.org/community/viewTeam?team_id=9184
Posted by Prem Thomas from Caloocan City, Philippines Oct 27, 2009
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Repayment Schedule for Myrna Valencia

Show Advanced

	Expected Repayments	Actual Repayments	Comments
December 2009	$58.33	$58.33	Repayment Received
January 2010	$46.67	$46.67	Repayment Received
February 2010	$58.33	$58.33	Repayment Received
March 2010	$11.67	Available Mar 1