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Merlinda

Update on Merlinda

Merlinda is thankful for the financial assistance extended to her since she was able to buy more products for her business. Her loan also helped in the education of her children. Her income from business is assisting their everyday household expenditures. She works hard to provide for their everyday needs. She also has an apartment, for additional income.

She would like to apply for another loan, in the amount of PHP 51,000, 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 should result in greater profit. Her profits from business will definitely help her to sustain her family's daily needs. She looks forward to this financial increase with gladness and thankfulness in her heart.

Merlinda dreams that her business will continue to flourish and hopes to have a better living. She meets up weekly with her co-fellowship members to share stories of her work and draw strength and inspiration from studying the Word of God.

* All Center for Community Transformation (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 that gather weekly to study the Word of God, build social capital, and repay microfinance loans.

Previous Loan Details

This is Victoria. She previously accessed a 10,000 PHP loan that she used to buy more fruit. Her earnings were a big help for the education of her children and in their personal, household and business expenditures. She would like to apply for another 12,000 PHP loan to buy more fruit for her... More from Merlinda'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
  • 1144
    View loans »
    Philippines Loans Fundraising
  • $54,905,900
    Funds lent in using Kiva
  • 43.8
    Philippines Pesos (PHP) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,175 helped Merlinda to pay for grocery items, toiletries, and beverages needed in her business.
96% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 20, 2014
Listed
Jun 18, 2014
Currency Exchange Loss:
Possible