Cherry's main business is rug making, using scraps of cloth. Her working space is an extension of her house. She has been making rugs for ten years and is able to earn PHP 10,000 every month.
Cherry is requesting a loan of PHP 50,000 to help develop her business. She will use this loan to buy cloth scraps in bulk, thereby freeing her to focus on the craft of rug making itself. Cherry also mentions being able to purchase other daily needs with this loan.
Purchasing cloth scraps with a small budget is really difficult and selling the rugs also requires extra effort at times. But Cherry is determined to make her business grow and eventually stabilize. She channels most of her energy and time on her business because she believes that, through this business, she can attain a life that is worth living.
*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.
More information about this loan
On Friday November 8, 2013, Super Typhoon Haiyan made its way through Southeast Asia, causing substantial damage to homes and businesses in areas of the Philippines. Given the state of devastation following this storm, borrowers living and working in these areas may have difficulty making repayments on their loans, thus making their Kiva loans higher risk. More information >>
About the Center for Community TransformationThe 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.
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