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Carmen

Update on Carmen

This is Carmen's eleventh loan cycle. She used her loans on her business, and this gave her a good reward. Her business is continuously expanding, and she now has two tricycles. Her children are all working now, and she uses her income in their everyday expenses. Her husband helps her in generating income for their family.

She would like to apply for another 20,000 PHP loan to buy spare parts and for the maintenance of their tricycles. Her profits from her business will definitely help her to sustain her family’s daily needs. She looks forward to this financial increase with gladness and thankfulness in her heart.

Carmen dreams to have more tricycles. She meets up with her *co-fellowship members every week to share stories of her life and business and to also draw strength and inspiration from the Word of God that she studies.

* All CCT community partners/clients are organized into fellowship groups composed of 15 to 30 community partners. The fellowship groups gather each week to study the Word of God, build social capital, and pay microfinance loans.

Previous Loan Details

This is Carmen. Her previous loan was a big help in her business. She was able to buy the needed spare parts for her tricycle. The loan also helped with her family's needs. She and her husband are working hard to provide income for their everyday needs. She would like to apply for another 10,000… More from Carmen's previous loan »

Additional Information

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 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

  • $1175
    Average annual income
  • 478
    View loans »
    Philippines Loans Fundraising
  • $51,043,600
    Funds lent in using Kiva
  • 43.7
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $475 helped Carmen to pay for the spare parts and maintenance of her tricycles.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 30, 2013
Listed
Aug 19, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 19, 2014