Cresenciana O., 49, is making sure that her family has enough provisions for their daily needs. Married to Antonio O., an operator, they are blessed with six children. She makes sure that she helps her husband earn income so that their family can have a better life. To that end, she has been managing her own variety store, while renting out some apartment rooms. She also sells native rice cakes on the side.
Cresenciana has been a regular member of the Center for Community Transformation* (CCT) for more than a year now. She regularly attends their weekly fellowship meetings and pays her weekly dues consistently. Because of her good repayment performance with her previous loans, she was able to borrow quite a few times in CCT’s Cooperative. Cresenciana is able to be consistent in paying her dues because she used the loan money to expand and improve her businesses.
To ensure the success of her business, she would like to apply for a PHP 10,000 loan. This amount will be used as a source of additional capital to aid in buying groceries needed to replenish her varitey store's inventory. She will also invest some of the loan to purchase raw ingredients needed for her rice cakes. She dreams that her business will continue to grow so that she can provide for her children’s education.
* All CCT community partners / clients are organized into fellowship groups that meet on a weekly basis. A fellowship group is composed of 15 to 30 community partners. The fellowship groups gather each week to study the Word of God, build social capital and pay microfinance loans.
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.