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Virginia

Update on Virginia

This is Virginia, 58, a resident of Manila, Philippines. She is a widow and a mother to her two children. She, together with her children, manages their household while operating her business. At this time, she is working hard to continually provide income for her everyday expenses.

Virginia maintains a direct selling business. She sells clothing, footwear, undergarments, cosmetics, and other products of popular brands like Avon, Fuller life, Natasha, Boardwalk, Marikina Shoe Exchange, and other direct selling brands. A customer's order is bought in cash by the dealer and then given to the customer with a one-month-to-pay credit. The dealer’s prices are lower than those in the catalog, and these are the profits that dealers are investing as their income. Virginia's regular customers are her neighbors and the local community. She earns a minimum of PHP 5,000 in sales every week.

To help her continue operations of her business, she is requesting a PHP 43,000 loan. She will use the loan to buy more orders for her customers. She expects a boost in her business income as she expands her business.

Virginia hopes to be more successful in her business and dreams of being able to give her children a good future through all her hard work. She faithfully meets up with her co-fellowship members every week to share stories of her work and to draw strength and inspiration from the Word of God, which 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 microfinance loans.

Previous Loan Details

This is Virginia, 58, a resident of Manila, Philippines. She is a widow and a mother to her two children. She, together with her children, manages their household while operating the business. At this time, she is working hard to continually provide income for her everyday expenses. Virginia... More from Virginia's previous loan »

Additional Information

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 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.

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.

About Philippines

  • $1175
    Average annual income
  • 1420
    View loans »
    Philippines Loans Fundraising
  • $56,534,775
    Funds lent in using Kiva
  • 42.7
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,025 helped Virginia to pay for merchandise items and products needed in her business.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 20, 2012
Listed
Apr 21, 2012
Currency Exchange Loss:
Covered
Ended:
Oct 15, 2012