This is Richard, 23, resident of Intramuros, Philippines. He is still single and he lives with his parents. He helps them in managing their household and he also works to help his family.
Richard maintains a tricycle business. He owns and drives one unit of tricycle (motor cycle with sidecar) that carries up to four passengers to their destination within the community. He starts working early in the morning and works until late in the evening. There are times when he drives in the late evening, until the wee hours, to have a bigger profit. His regular customers are his neighbors and the local community. His business has a total of four units of tricycle. The other three tricycles are being used by other tricycle drivers, who then remit their daily quota. Richard earns a minimum of PHP 1,200 in his transportation business every day.
To help him continue operations of his business, he is requesting a loan of PHP 20,000. He will be utilizing the loan to buy motorcycle parts for the maintenance of his four tricycle units. He has to maintain his units in good condition in order to have a regular income for the daily needs of his family.
Richard dreams for the continuous success of his business and hopes to have his own house and lot. Every week, he meets up with his co-fellowship* members to share stories of his life and business and draw strength and inspiration from the Word of God that he studies.
* All Center for Community Transformation Credit Cooperative (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.
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.