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Nestor

Update on Nestor

Nestor has taken out and repaid a loan for PHP 30,000 that he used to buy more fish to sell. The additional money he earned was a big help in meeting his expenses. He has been in this line of work for 20 years and is requesting a new loan, for PHP 50,000, to buy more fish to sell. He hopes this loan will increase his income even more. His goal for the future is to open a second location where he can sell more fish and provide his family with a good life. He meets with his co-fellowship members to share stories of his work every week and draw strength and inspiration from his religion.

* 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 meet to study religion, build social capital, and repay microfinance loans.

Previous Loan Details

Nestor, 53, is a resident of Silang, Cavite, Philippines. He is married to Nenita, his business partner, and mother to his children. He and his wife manage their own household while operating the business. At this time, he is working hard to continually provide income for their everyday expenses.... More from Nestor'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

  • $7,000
    Average annual income
  • 1244
    View loans »
    Philippines Loans Fundraising
  • $57,844,575
    Funds lent in using Kiva
  • 40.7
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,250 helped Nestor to buy more fish to sell.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 7, 2013
Listed
Mar 13, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2013
This photo was used before for a previous loan for Nestor. It was first posted on Kiva on Oct, 2012. Learn More