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Luis

Update on Luis

Luis previously accessed a 30,000 PHP loan that he used to pay for the maintenance of his water dispenser business and computer shop. His earnings were a big help for the education of his children and in their personal, household and business expenditures.

To help him continue operations of his business, he is requesting another loan, this time for PHP 35,000. He will use the loan to buy three sets of computer units needed in his shop. His profits from his business will definitely help him to sustain their daily needs and educational expenses of his children. He looks forward to this financial increase with gladness and thankfulness in his heart.

Luis dreams of having a well-to-do living and hopes to put up branches of his computer shop. He meets up every week with his co-fellowship* members to share stories of his work and to draw strength and inspiration from the word of God he studies.

* All CCT community partners/clients are organized into fellowship groups that meet on a weekly basis. A fellowship group comprises 15 to 30 community partners. The fellowship groups gather each week to study the word of God, build social capital and repay microfinance loans.

Previous Loan Details

This is Luis. His previous loan was a big help in his business. As of now, he is more focused in attending to his coin-operated water dispenser business as well as in his computer shop. He and his wife continue to work to provide for their family. He would like to apply for another 30,000 PHP ... More from Luis'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.

Tags

About Philippines

  • $1175
    Average annual income
  • 1157
    View loans »
    Philippines Loans Fundraising
  • $54,862,550
    Funds lent in using Kiva
  • 43.9
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Luis to pay for the maintenance of his computers and to buy three more units.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 22, 2014
Listed
Jun 4, 2014
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014