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Romeo

Update on Romeo

Romeo previously accessed an 10,000 PHP loan that he used to buy spare parts, accessories and for the maintenance of his Jeepney. His earnings were a big help for the education of his children and in their personal, household and business expenditures.

He would like to apply for another 15,000 PHP loan to buy spare parts and for the maintenance of his Jeepney. His profits from his business will definitely help him to sustain daily needs and educational expenses of his children. He looks forward to this financial increase with gladness and thankfulness in his heart.

Romeo dreams for his children to finish their studies and still hopes to get another Jeepney unit. He meets up with his fellowship members to share stories of his work every week where he finds strength and inspiration from the Word of God he studies.

-Curiously, Jeepneys have purely American origins. They were first used by American soldiers helping the Philippines fight off the invading Japanese. Filipino ingenuity, however, managed to see this vehicle as an opportunity to earn money, and modified the Jeep into a 20-seater Jeepney, open enough to provide adequate ventilation, sturdy for every day travel, and cheap enough to buy and maintain. Now, the Jeepneys are one of the things that makes the Philippines truly Philippines.

* 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 microfiinance loans.

Previous Loan Details

This is Romeo, 53, resident of Silang, Cavite City, Philippines. He is married and father to his children. By the grace of God, he has managed to support his children's schooling. At this time, he is working hard to continue to send his children to school to finish their degree. Romeo oversees... More from Romeo'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

  • $7,000
    Average annual income
  • 1309
    View loans »
    Philippines Loans Fundraising
  • $57,977,325
    Funds lent in using Kiva
  • 43.9
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $350 helped Romeo to pay for the spare parts and maintenance of his Jeepney.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 22, 2014
Listed
Jun 6, 2014
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014
This photo was used before for a previous loan for Romeo. It was first posted on Kiva on Jan, 2014. Learn More