Update on ElsaThis is Elsa. Her previous loan was a big help in her business. She was able to buy more decorative plastic flowers with more designs. The loan also helped with her family's everyday needs. She has been in this business for 15 years, and it continues to grow. She and her husband are working hard to provide income for their family.
Elsa would like to apply for another loan of 14,000 Philippine pesos to buy additional stock of decorative plastic flowers and plants. Her profits from her business will definitely help her to sustain her family’s daily needs and the educational expenses of her children. She looks forward to this financial increase with gladness and thankfulness in her heart. She hopes that her business will continue to flourish and grow. She dreams of her family having their own house.
Elso meets with her co-fellowship* members every week to share stories of her life and business. She draws strength and inspiration from the fellowship and from the word of God that she studies.
*All CCT community partners and clients are organized into fellowship groups that meet weekly. 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 DetailsThis 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 anothe... More from Elsa's previous loan »
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
- Feb 12, 2013
- Feb 17, 2013
- Currency Exchange Loss:
- Jun 17, 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.