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Margarita

Update on Margarita

This is Margarita, She previously accessed a 15,000 PHP loan that she used to buy additional stocks of rice for her business. 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 15,000 PHP loan to buy additional stocks of rice for her business. Her profits from business will definitely help her to sustain her daily needs and cover the educational expenses of her children. She looks forward to this financial increase with gladness and thankfulness in her heart.

Margarita hopes to have a grocery store someday and she hopes to give her children a high-quality education through all her hard work in her business. She faithfully meets up with her co-fellowship* members to share stories of her work every week and also draws 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 repay Micro Finance loans.

Previous Loan Details

This is Margarita, 43, a resident of Bacoor, Cavite, Philippines. She’s married to Ferdinand, an employee, and is the mother of five children. Together with her husband, she manages their household while operating the business. At this time, she is working hard to continually provide income for h... More from Margarita'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
  • 972
    View loans »
    Philippines Loans Fundraising
  • $54,528,050
    Funds lent in using Kiva
  • 41.3
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $375 helped Margarita to pay for additional stocks of rice needed in her business.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 29, 2012
Listed
Nov 8, 2012
Currency Exchange Loss:
Possible
Ended:
Mar 15, 2013
This photo was used before for a previous loan for Margarita. It was first posted on Kiva on Jul, 2012. Learn More