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Alma

Update on Alma

This is Alma. Her previous loan was a big help not just for her business, but even in her family's expenses, especially her children's education. She is in this business for four years now. She and her husband are working hard to provide for their everyday expenses.

She would like to apply for another 25,000 PHP loan for her to buy groceries, toiletries, beverages, and other products to add in her inventory. The more items displayed at the store the better. More items to sell will result in better profits. Her profits from the business will definitely help sustain her family’s daily needs and her children’s education expenses. She looks forward to this financial increase with gladness and thankfulness in her heart.

Alma hopes to expand her business and dreams that her children will finish their studies. She attends the fellowship* every week for the teachings, and sharing the word of God continues to enlighten and uplift her spirit.

* 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 repay microfinance loans.

Previous Loan Details

This is Alma. She previously accessed a 15,000 PHP loan that she used to purchase more quantities and varieties of grocery items and products needed in her business. Her earnings were a big help for her children’s education and in her personal, household and business expenditures. She would l... More from Alma'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
  • 1469
    View loans »
    Philippines Loans Fundraising
  • $59,226,550
    Funds lent in using Kiva
  • 43.2
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $600 helped Alma to pay for grocery items and other products needed in her business.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 30, 2013
Listed
Jun 26, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2013
This photo was used before for a previous loan for Alma. It was first posted on Kiva on Nov, 2012. Learn More