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Lolita

Update on Lolita

This is Lolita. She previously accessed an 30,000 PHP loan, which she used to buy spare parts and cover the maintenance costs of her Internet cafe/computer shop. Her earning has been a big help to the education of her children and in their personal, household and business expenditures.

She and her husband, a tricycle operator, work hard to provide income for their family. They have been getting income from their tricycle for eleven years now.

She would like to apply for another 50,000 PHP loan for her to buy parts and cover the maintenance costs of her Internet cafe/computer shop. The profits from her business will definitely help her to sustain their daily needs and the educational expenses of her children. She looks forward to this financial increase with gladness and thankfulness in her heart.

Lolita hopes to expand her business and dreams of giving her children a good education and a good future. She faithfully meets up with her co-fellowship members to share stories of her work every week.

* 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 pay micro-finance loans.

Previous Loan Details

This is 42-year-old Lolita, a resident of the Intramuros district in Manila City, Philippines. She is married to Erwin, and a mother to her children. At this time, she is working hard to be able to send her children all the way through college. Like most Filipino parents, Lolita believes that a c... More from Lolita's previous loan »

Additional 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

  • $7,000
    Average annual income
  • 1488
    View loans »
    Philippines Loans Fundraising
  • $59,226,550
    Funds lent in using Kiva
  • 41.0
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Lolita to pay for the additional computer parts and supplies needed in her business.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 28, 2013
Listed
Jan 30, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2013
This photo was used before for a previous loan for Lolita. It was first posted on Kiva on Oct, 2012. Learn More