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Corazon

Update on Corazon

This is Corazon. She previously accessed a 10,000 PHP loan that she used to buy more stocks of mineral water needed in her mineral water distribution business. Her earnings were a big help for her family's personal, household and business expenditures.

Corazon is requesting another 10,000 PHP loan to buy additional stocks of mineral water for her business. The more mineral water she displays at her store, the better, as more stock will result in better profit. Corazon's business profits will definitely help sustain her daily needs and she looks forward to this financial increase with gladness and thankfulness in her heart. In the future, Corazon dreams that her business will continue to grow and she hopes that her children will have a better life. She meets up weekly with her co-fellowship* members to share stories of her life and business and draw strength and inspiration from studying the Word of God.

*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 gather each week to study the Word of God, build social capital, and repay microfinance loans.

Previous Loan Details

This is Corazon, 57, resident of Silang, Cavite, Philippines. She is married to Alfredo, an oversees Filipino worker, and is the mother of their children. At this time, she is working hard to send her other children to school. Corazon is a mineral water distributor. What she basically does is ... More from Corazon'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
  • 1497
    View loans »
    Philippines Loans Fundraising
  • $59,411,500
    Funds lent in using Kiva
  • 41.1
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $250 helped Corazon to buy mineral water to distribute for her business.
100% repaid
Repayment Term
5 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 15, 2013
Listed
Apr 26, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2013
This photo was used before for a previous loan for Corazon. It was first posted on Kiva on Jun, 2012. Learn More