Update on OliviaThis is Olivia. She previously took out a 20,000 PHP loan from CCT that she used to buy a variety of grocery items and products needed to stock her shop. Her profits were a big help in paying for her child’s school fees and personal, household and business expenses.
Olivia would like to apply for another 25,000 PHP loan to buy groceries, toiletries, beverages and other products to add to her inventory. Her philosophy: the more items displayed in the store, the better, which leads to better profits. Her profits will definitely help her to sustain her daily needs and pay for her child’s school fees. She looks forward to this increase in income with gladness and thankfulness in her heart.
All CCT community clients, of which Olivia is one, are organized into fellowship groups of fifteen to thirty members who meet on a weekly basis. There they share stories of their work, repay microfinance loans and draw strength and inspiration from their study of the Word of God.
Previous Loan DetailsThis is Olivia, 53, a resident of Caloocan City, Philippines. She is married to Salvador, a contractor, and mother to their children. She and her husband manage their household while operating the business. Olivia works hard to continually provide income for their everyday expenses. Olivia… More from Olivia'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