Update on MerceditaMercedita is very thankful for the years of help that she is receiving from Kiva and CCT. Her variety store is continuously growing and expanding as she increases her loan. As of now, she and her husband are working hard to provide for their everyday needs.
She would like to apply for another 40,000 PHP loan to buy groceries, toiletries, beverages, and other products to add to her current inventory. The more items displayed at the store, the better. More items to sell will result in more profit. Her profits from the business will definitely help her to sustain her daily needs. She looks forward to this financial increase with gladness and thankfulness in her heart.
Mercedita hopes that her product inventory will continue to increase, and she dreams that her family will always be in good health. She meets weekly with her co-fellowship* members to share stories of her work 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 DetailsThis is Mercedita. Her previous loan was a big help to her business. She was able to buy all the needed items needed in her variety store. She also has a direct selling business for additional income. She and her husband are working hard to provide income for their everyday needs. She would li... More from Mercedita's previous loan »
More information about this loan
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
- Repayment Term
- 7 months (Additional Information)
- Repayment Schedule
- Jul 16, 2013
- Jul 24, 2013
- Currency Exchange Loss:
- Jan 17, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.