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Elsa

Update on Elsa

This is Elsa. She previously accessed a 14,000 PHP loan that she used to buy additional stock of decorative plastic flowers and plants. Her earnings were a big help for the education of her children and in their personal, household and business expenditures.

She would like to apply for another 14,000 PHP loan for her to again buy additional stock of decorative plastic flower and plants. More items to sell will result in better profit. Her profits from business will definitely help her sustain her daily needs and pay the educational expenses of her children. She looks forward to this financial increase with gladness and thankfulness in her heart.

Elsa hopes to expand soon. She dreams of being able to give her family a good future through all her hard work on her business. She also dreams of having her own house and lot someday. She faithfully meets up with her co-fellowship* members to share stories of her work every week. At these meetings, she can also draw strength and inspiration from studying the Word of God.

* All CCT community partners and 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 back microfinance loans.

Previous Loan Details

This is Elsa, 56, a resident of Intramuros in Manila. She is married to Manuel, a traffic enforcer. She, together with her husband, manages their own household while operating the business. At this time, she is working hard to continually provide income for their everyday expenses. Elsa operat... More from Elsa'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
  • 1301
    View loans »
    Philippines Loans Fundraising
  • $56,397,425
    Funds lent in using Kiva
  • 41.7
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $350 helped Elsa to pay for additional stock of decorative plastic flowers and plants needed in her business.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 25, 2012
Listed
Oct 9, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 15, 2013