Update on MerlaMerla has faithfully paid back her previous loan, which she used for her business. She has been operating her own “sari-sari” (variety) store for seven years and she earns well from this. Having a bigger family requires more effort to provide for their needs, especially for her four children. She has to work hard, with the determination of having better income, to provide their children with a better education.
To improve sales, Merla would like to apply for a new loan to purchase additional grocery goods to sell. With PHP 30,000, she could purchase more quantities and varieties of grocery items, toiletries and beverages needed in her business. She sincerely lets you know her heartfelt thanks and appreciation for this assistance in advance.
In the future, Merla wants to transform her sari-sari store into a grocery store. She dreams only for her family to have a well-contented and fulfilled life. She meets with her co-fellowship* members to share stories of her life and business every week. At these meetings she also draws strength and inspiration from studying the word of God.
* 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 DetailsMerla is very thankful for the financial assistance extended to her. She is using her loans in her business to provide additional capital and her business is continuously growing. Her income from business is also a big help to her family's everyday expenditures. She would like to apply for ano... More from Merla's previous loan »
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 TransformationThe 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.
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Success!! The loan was 100% repaid