Update on MercedezThis is Mercedez. Her previous loan was a big help in her business, enabling her to buy needed spare parts for her tricycle. She also has a van that she rents for additional income. She and her husband are working hard to provide income for their everyday needs, and the earnings facilitated by the loan helped in the education of her children and in the family's household expenditures.
Mercedez would like to apply for another loan of 30,000 Philippine pesos (PHP) to pay for spare parts and for the maintenance of the tricycle unit. The profits from this business will definitely help her to meet the family's daily needs as well as support her children's education. She looks forward to this financial increase with gladness and thankfulness in her heart.
Mercedez hopes to have another vehicle in the future and dreams that her children will finish their studies. She meets up with her co-fellowship members to share stories of her life and business every week and to draw strength and inspiration from her studies of the Word of God.
* All CCT community partners and/or clients are organized into fellowship groups that meet on a weekly basis. A fellowship group is composed of 15-30 community partners. The fellowship groups gather each week to study the Word of God, build social capital, and repay microfinance loans.
Previous Loan DetailsThis is Mercedez. She previously took out a loan of 20,000 PHP that she used to pay for spare parts, accessories maintenance necessary for her tricycle unit. Her earnings were a big help for both the education of her children and her family’s personal household and business expenditures. Sh... More from Mercedez'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