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Nelly

Update on Nelly

Nelly owns and operates a beauty salon to earn a living. She has been successful in this business for almost 25 years, and she repaid her previous loan used for the business. She also finds ways to improve her income by operating her own transportation business. She has a unit of taxi, jeepney, and tricycle.

For these businesses, she would like to take a new loan to improve her service. She is requesting an amount of 50,000 Philippines pesos (PHP) to buy more beauty and hair products like straightening treatment and others needed in her business. A portion of the loan will also be used for the maintenance of her transportation vehicles.

In the future, Nelly wants to make improvements in her business and likewise add more transportation units. She also dreams that her children will be open-minded and be properly orientated on putting and growing their own. She faithfully meets up with her co-fellowship* members to share stories of her work every week and to draw strength and inspiration from the Word of God she 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 Nelly, 66, a resident of Taguig, Philippines. She is a widow and a mother. She operates the business and she is working hard to continually provide income for her everyday expenses. Nelly operates a salon business. She offers hair styling, hair grooming, hair straightening, manicure ... More from Nelly'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
  • 1165
    View loans »
    Philippines Loans Fundraising
  • $54,856,275
    Funds lent in using Kiva
  • 43.3
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,175 helped Nelly to pay for the beauty products and hair products needed in her salon.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 24, 2014
Listed
Jul 14, 2014
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2015
This photo was used before for a previous loan for Nelly. It was first posted on Kiva on Dec, 2012. Learn More