Update on NidaThis is Nida. She previously received a 16,000 PHP loan that she used to purchase materials for her scrap metal business. The earnings generated with her loan were a big help for her children's education and in her family's personal, household, and business expenditures.
Nida is requesting a 20,000 PHP loan to incorporate into her revolving fund and purchase more scrap materials. The profit from her loan will definitely help to provide for her daily needs and the educational expenses of her children. Nida looks forward to this financial increase with gladness and thankfulness in her heart. In the future, she hopes to expand her business and she dreams of being able to provide her children with a good and high-quality education through all of her hard work. Nida faithfully meets up weekly with her co-fellowship* members to share stories of her work and draw strength and inspiration from studying the Word of God.
* 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 who gather each week to study the Word of God, build social capital, and repay microfinance loans.
Previous Loan DetailsThis is Nida, a 54-year-old mother and resident of Payatas, Philippines who is married to Romeo. She and her children manage their household while operating a business. At this time, she is working hard to continually provide income for their everyday expenses.
Nida operates a junk shop.… More from Nida'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
- Repayment Term
- 5 months (Additional Information)
- Repayment Schedule
- Nov 14, 2012
- Nov 28, 2012
- Currency Exchange Loss:
- Mar 15, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.