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Jerry

Update on Jerry

Jerry is very thankful for the financial assistance extended to him. He used it in his business, which is a junk shop, and it is continuously growing. He also used it in the education of his children. All of his children are in school; two are in high school and one is in grade school. He used his income from business to pay for their everyday expenses at home. His wife is very supportive of him and helping him manage their household and business.

He would like to apply for another 40,000 PHP loan. He will be incorporating the loan on his current revolving fund used to buy scrap materials. His profits from his business will definitely help him sustain their daily needs and education expenses of his children. He looks forward to this financial increase with gladness and thankfulness in his heart.

Jerry hopes that his business will grow bigger, and dreams that his children will finish their studies. He meets up with his fellowship* co-members to share stories of his work every week, and he can also draw strength and inspiration from the Word of God, which he 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 Micro Finance loans.

Previous Loan Details

This is Jerry. His previous loan was a big support to his business and also helped with his household's expenses, especially with his children's education. He has been in this business for sixteen years now, and he and his wife are working hard to provide for their everyday needs. Jerry would… More from Jerry'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
  • 359
    View loans »
    Philippines Loans Fundraising
  • $50,755,825
    Funds lent in using Kiva
  • 43.4
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Jerry to pay for recyclable materials needed in his business.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 29, 2013
Listed
Oct 5, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014