Update on CorazonThis is Corazon, 53, resident of Pasay City, Philippines. She is married to Candido, a repair technician and father to her five young-adult children, four of whom are already working while the youngest is in college. By the grace of God, she has managed to support all her children’s educational needs. As of the present time, she is working hard to be able to maintain her finances for her youngest child’s college education.
Corazon operates an appliance-repair shop. Her husband is the main technician while she handles finances, accounts, inventories and promotion. They offer repair and check-up of all types of appliances, like electric fans, washing machines, air-conditioning, and others. Her shop is located adjacent to her house. Her regular customers are her neighbors and the local community. She earns a minimum of 300 Philippine Pesos (PHP) in sales every day.
To help her continue the operation of her business, she is requesting a 17,000 PHP loan. She will use the loan to buy spare parts for the appliances they repair. She expects a boost in her business income as she expands her business.
Corazon hopes her business will grow and dreams of being able to give her children a high-quality education 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 where 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 Corazon, 52, a resident of Pasay City, Philippines. She is married to Candido, a technician. Of her five children, four are already working, while the youngest is in college. By the grace of God, she has managed to support all her children's educational needs. As of the present time she ... More from Corazon's previous loan »
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.
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