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Gemma

Update on Gemma

This is Gemma. She previously accessed an 8,000 Philippine pesos (PHP) loan that she used to purchase merchandise items and products needed in her business. Her earnings were a big [help] for her child’s education and in their personal, household and business expenditures.

Gemma would like to apply for a new 13,000 PHP loan to buy more merchandise items and products to increase her inventory. The more items she has on display and available on hand, the better. More items to sell will result in better profit. Her profits from the business will definitely help her to cover her child’s education and daily needs. She looks forward to this financial increase with gladness and thankfulness in her heart.

Gemma hopes to be more knowledgeable in business and dreams that her child will finish his studies. She meets up with her co-fellowship members to share stories of their work every week. This is where she can also draw strength and inspiration from the Word of God she studies.

* 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 pay microfinance loans.

Previous Loan Details

This is Gemma, who is 39 years old and a resident of Payatas, Quezon City, Philippines. Her husband is Felix, a businessman. She has one child. Together with her husband, she manages their household while operating her business. At this time, she is working hard to continually provide income for... More from Gemma'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
  • 269
    View loans »
    Philippines Loans Fundraising
  • $52,788,275
    Funds lent in using Kiva
  • 43.7
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $300 helped Gemma to pay for additional supplies and merchandise products, such as clothing, footwear, undergarments and cosmetics needed in her business.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 12, 2013
Listed
Sep 22, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 18, 2014
This photo was used before for a previous loan for Gemma. It was first posted on Kiva on Sep, 2012. Learn More