Update on LigayaThis is Ligaya, sixty-one, a resident of Pasay City, Philippines. She is a widow and a mother of four children. She manages her household while operating the business. At this time, she is working hard to continually provide income for their everyday expenses.
Ligaya runs an “ukay-ukay” business. “Ukay” literally means to “dig out” or “hollow out” from a stack or heap of anything. In Yolanda’s case, she sells used (but not yet worn out) clothes that are usually stacked up on a table or mat. Some special kinds are displayed on hangers. In the Philippines, especially in urban poor communities, many people resort to buying used clothes from “ukay-ukay” stalls. These are very much cheaper than brand new clothes sold in malls. Since her stall is located in an urban poor public market, her business flourishes. She earns a minimum of 300 Philippine Pesos (PHP) net sales every day.
To help her expand the business, Yolanda is requesting a PHP 26,000 loan to buy additional used-but-quality clothes. Customers are attracted to buy from an “ukay-ukay” stall with lots of clothes to choose from. She plans to add more pants or jeans, also used bags and footwear. If she can roll over the profits from this loan, she can meet the customers’ demand. Through proper management of capital and profit, she can expand her business and boost its income.
Ligaya hopes to to give her family a good future through all her hard work on her business. She faithfully meets up with her co-fellowship* members to share stories of her work every week and were she can also draw strength and inspiration from the word of God she studies.
* 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 Micro Finance loans.
Previous Loan DetailsThis is Ligaya, 60 years old and a resident of Quezon City, Philippines. She is a widow with four children, all of whom are married and have families of their own. Despite her senior age, Ligaya still wants to continue doing business as it keeps her busy and is a good use of her time. Ligaya ... More from Ligaya's previous loan »
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.
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.
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Success!! The loan was 100% repaid
- Repayment Term
- 6 months (Additional Information)
- Repayment Schedule
- Jan 31, 2012
- Feb 19, 2012
- Currency Exchange Loss:
- Jun 15, 2012
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.