Update on AdoracionThis is Adoracion. She is 60 years old and a resident of Pasay City, Philippines. She is a mother of 2 children, one working, the other staying at home. Together with her children, she manages the household while operating the business. At this time, she is working hard to continually provide income for their everyday expenses.
Adoracion operates a variety store. In the Philippines, a variety store is basically a small convenience store, which retails groceries, toiletries, and beverages piecemeal to the local neighborhood. It is the place to go to buy one sachet of shampoo, Php5 worth of cooking oil, or a single egg. Adoracion earns income by buying supplies at wholesale prices and selling by the piece. Her store is located adjacent to her house. Her regular customers are her neighbors and the local community. She also does direct selling business -- she sells clothing, footwear, undergarments, cosmetics and other products through the popular direct selling brands like Avon, Fullerlife, Natasha, Boardwalk, Marikina Shoe Exchange, and other direct selling brands. A customers order is bought in cash by the dealer and then given to the customer with a one-month-to-pay credit. Dealer’s prices are lower than those in the catalogue, and these are the profits that dealers are investing on as their income. She earns a minimum of PHP17,500 in net sales a week.
To help her continue operating her business, she is requesting a loan of PHP50,000. She will use the loan to buy groceries, toiletries, and beverages to expand her product inventory and will also use it to buy products for the direct-selling business. She expects a boost in her business income as she expands her business.
Adoracion hopes to be able to expand soon. She faithfully meets up with her co-fellowship members to share stories of her work every week 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 repay microfinance loans.
Previous Loan DetailsAdoracion is 59 years old, widowed, and has two children. She lives in Pasay City, Philippines. Together with her children, she manages their household while operating her general store. At this time, she is working hard to provide income for their everyday expenses. Adoracion's store is ba... More from Adoracion'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