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Virgilio

Update on Virgilio

Virgilio owns and operates a Jeepney unit. He has been successful in this business for 25 years, and he repaid his previous loan used for the business. He also finds ways to improve his income to provide their everyday needs and necessities.

Relative to this, he would like to take a new loan to buy spare parts and accessories for the vehicle. He is requesting an amount of PHP 30,000 for the maintenance of the Jeepney unit, and to buy other materials needed in his business. He sincerely expresses his heartfelt thanks and appreciation for this assistance in advance.

In the future, Virgilio hopes to buy another Jeepney unit, and desires to improve their financial status. He meets with his co-fellowship* members every week to share stories of his work. That is where he can also 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 is composed of 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

Virgilio is thankful for the financial assistance extended to him. He was able to buy the needed spare parts and accessories for his transportation business. He works hard and his income from the business is assisting their everyday household expenditures. He would like to apply for another 3... More from Virgilio'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
  • 1249
    View loans »
    Philippines Loans Fundraising
  • $57,895,900
    Funds lent in using Kiva
  • 43.7
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $700 helped Virgilio to pay for the spare parts and maintenance of his Jeepney (public transport vehicle).
100% repaid
Repayment Term
5 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 1, 2014
Listed
Aug 11, 2014
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014