Update on RoyThis is Roy. His previous loan was a big help in his business. He was able to buy the needed materials in his barber shop. He was able to generate more income which helped a lot in their household expenditures and his children's education. He and his wife are working hard to provide income for their everyday needs.
He would like to apply for another 15,000 Philippine Peso (PHP) loan to buy clippers, trimmer accessories, shampoo, towels, neck strips and other materials needed in his barber shop. His profits from the business will definitely help sustain their daily needs and the educational expenses of his children. He looks forward to this financial increase with gladness and thankfulness in his heart.
Roy hopes to have another branch and dreams to give his children a good life and education. He meets up with his co-fellowship* members every week to share stories of his life and business and to also draw strength and inspiration from the Word of God, which 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 pay microfinance loans.
Previous Loan DetailsThis is Roy. He previously accessed a 10,000 PHP loan that he used for purchasing equipment for his barber shop. His earnings were a big help with his personal, household and business expenditures. He would like to apply for another 13,000 PHP loan to buy materials like clippers, trimmer acce... More from Roy's previous loan »
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