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Clara

Update on Clara

This is Clara. She previously accessed an 50,000 PHP loan which she used to purchase more quantities and varieties of grocery items, toiletries and beverages needed in her business. Her earnings were a big help in her personal, household and business expenditures.

Clara would like to apply for another 30,000 PHP loan to buy groceries, toiletries, beverages and other products to add to her current inventory. The more items displayed at the store, the better. More items to sell will result in better profit. Her profits from business will definitely help her to sustain her daily needs. She looks forward to this financial increase with gladness and thankfulness in her heart.

Clara dreams that her business will continue to flourish and hopes that she will also grow spiritually. She meets up weekly with her co-fellowship* members to share stories of her life and business and also to draw strength and inspiration from fellowship and 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 who gather to study the Word of God, build social capital and repay microfinance loans.

Previous Loan Details

This is Clara, 64, a resident of Batasan, Quezon City, Philippines. She has a child who stays with her and together they manage their household while operating a variety store. Clara works hard to continually provide income for her family's everyday expenses. In the Philippines, a variety store is… More from Clara'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
  • 392
    View loans »
    Philippines Loans Fundraising
  • $50,833,200
    Funds lent in using Kiva
  • 43.8
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $700 helped Clara to pay for grocery items, toiletries and beverages needed in her business.
100% repaid
Repayment Term
5 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 11, 2013
Listed
Nov 30, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 18, 2014
This photo was used before for a previous loan for Clara. It was first posted on Kiva on Jul, 2013. Learn More