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Virginia

Update on Virginia

This is Virginia. She previously received a 10,000 PHP loan, which she used to buy inventory for her store, in greater variety and larger quantity than before. Her earnings were a big help for her children’s education, and in the family's personal, household, and business expenditures.

She would like to apply for another loan, in the amount of 20,000 PHP, which she will use to buy groceries, toiletries, beverages and other products to add to her inventory. The more items displayed at the store, the better. More items to sell will result in better profit. Her profits from business will definitely help meet her family’s daily needs and cover her children’s education expenses.

Virginia dreams that her business will grow and expand. She hopes that her children will finish their studies. She faithfully meets with her co-fellowship members* every week, to share stories of her work and to draw 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 microfinance loans.

Previous Loan Details

This is Virginia, 47, resident of Manila, Philippines. She is married to Pablo, a driver, and mother to her children. She and her husband manage their household while operating a business. At this time, she is working hard to continually provide income for their everyday expenses. Virginia ope... More from Virginia'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
  • 1463
    View loans »
    Philippines Loans Fundraising
  • $59,362,100
    Funds lent in using Kiva
  • 40.6
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $500 helped Virginia to buy items to resell in her store, like groceries, toiletries and beverages.
100% repaid
Repayment Term
5 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 12, 2013
Listed
Feb 17, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2013
This photo was used before for a previous loan for Virginia. It was first posted on Kiva on Nov, 2012. Learn More