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Merla

Update on Merla

Merla is very thankful for the financial assistance extended to her. She is using her loans in her business to provide additional capital and her business is continuously growing. Her income from business is also a big help to her family's everyday expenditures.

She would like to apply for another 30,000 PHP loan for her to buy groceries, toiletries, beverages and other products to add in her current 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 her to sustain her daily needs. She looks forward to this financial increase with gladness and thankfulness in her heart.

Merla hopes to become successful not just in business but also in life. She meets with her co-fellowship* members to share stories of her life and business every week. At these meetings she also draws 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. The fellowship groups gather each week to study the word of God, build social capital, and repay microfinance loans.

Previous Loan Details

This is Merla. Her previous loan was a big help, not just in her business, but even in her family. She was able to buy all the needed products for her grocery store. She has been in this business for five years. She and her husband work hard to provide income for their everyday needs. She woul... More from Merla'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
  • 1442
    View loans »
    Philippines Loans Fundraising
  • $59,259,575
    Funds lent in using Kiva
  • 44.3
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $700 helped Merla to pay for grocery items, toiletries and beverages to sell.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 29, 2013
Listed
Sep 10, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 18, 2014
This photo was used before for a previous loan for Merla. It was first posted on Kiva on Mar, 2013. Learn More