Update on VirginiaVirginia is very thankful for the financial assistance given to her. She used her loan as additional capital for her business. Her business is continuously growing, and it has been running for more than ten years now. Her income from her business has assisted with her family's everyday expenses.
She would like to apply for another 20,000 PHP loan for her to buy additional stocks of merchandise like children's, men's and women's clothing needed in her business. The more items displayed at the store, the better. More items to sell will result in better profit. Her profits from her business will definitely help her to sustain her daily needs. She looks forward to this financial increase with gladness and thankfulness in her heart.
Virginia hopes that her business will continue to flourish and that more products will be added. She meets every week with her co-fellowship* members to share stories of her work as well as to draw strength and inspiration from the word of God that 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 repay microfinance loans.
Previous Loan DetailsThis is Virginia. Her previous loan was a big help in her business. She was able to buy more clothes and shirts for children, men and women. She has been in this business for ten years now, and it keeps on growing. She and her husband, who is a technician, work hard to provide income for their ev... More from Virginia'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
- Repayment Term
- 7 months (Additional Information)
- Repayment Schedule
- Aug 12, 2013
- Aug 28, 2013
- Currency Exchange Loss:
- Feb 19, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.