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Norma

Update on Norma

This is Norma. She works distributing water and has previously accessed a 24,000 PHP loan that she used to buy more stocks of mineral water. Her earnings were a big help for her family’s personal, household, and business expenditures.

Norma is requesting a 29,000 PHP loan to buy additional stocks of mineral water needed in her business. The more mineral water displayed at the store the better as more items to sell will result in better profit. Nora will use the profits from her loan to helps sustain her daily needs. She looks forward to this financial increase with gladness and thankfulness in her heart. In the future, she hopes to be more successful in business and she dreams of giving her children a good life and education. Norma attends weekly fellowship* meetings that allow her to give of her own share of God’s love and care in her life.

* 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 to study the Word of God, build social capital, and repay microfinance loans.

Previous Loan Details

This is Norma. Her previous loan was a big help in her business. She was able to buy more gallons of mineral water and she was able to generate more income. The loan also helped in the education of her children, as well as in their household expenditures. She is in this business for four years no... More from Norma'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
  • 319
    View loans »
    Philippines Loans Fundraising
  • $52,172,975
    Funds lent in using Kiva
  • 44.1
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $675 helped Norma to buy mineral water to expand her product inventory.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 27, 2013
Listed
Sep 15, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014
This photo was used before for a previous loan for Norma. It was first posted on Kiva on Jun, 2013. Learn More