Update on FelixThis is Felix. His previous loan was a big help in his business. He was able to buy more kinds of frozen foods. He was able to generate more income, and it helped his family financially. He also has a farm, and he attends to both of his businesses. He and his wife are working hand-in-hand, to give a good future to their family.
He would like to apply for another 30,000 PHP loan. He will use part of the loan to buy fertilizers, seeds, and other inputs for maintenance of the farm. He will also use another part of the loan to buy different frozen foods. His profits from his businesses will definitely help him to sustain their daily needs and the educational expenses of his children. He looks forward to this financial increase with gladness and thankfulness in his heart.
Felix hopes that his business will continue to grow. He meets up with his co-fellowship members* every week, to share stories of his life and business and to find strength and inspiration from the Word of God he 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 pay Micro Finance loans.
Previous Loan DetailsThis is Felix. He previously accessed a 17,000 PHP loan that he used to buy frozen products needed for his business. His earnings were a big help for the education of his children, as well as for their personal, household, and business expenditures. Felix would like to apply for another 30,00... More from Felix's previous loan »
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 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