Myrna D. is from the village of Villanueva. She is 32 years old. Myrna is married and has two school-aged children. To make a living, Myrna owns and operates a business venture in the retail sector running a general store. While not the only means of generating revenue, the main source of income for the business comes primarily from selling a variety of different products in the local community. Myrna has been engaged in this business for over one year and earns approximately 3,000 PHP a month from this activity.
In 2008, Myrna joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Myrna has successfully repaid a previous loan of 5,000 PHP from ASKI. This previous loan was used to purchase additional products to sell. Myrna is requesting a new loan of 8000 PHP which will be used to purchase additional products to sell. This loan will be the third loan taken out by Myrna from ASKI. She plans to use the additional revenue generated from the business to improve and expand her business.
ASKI is one of the most successful microfinance institutions in the Philippines. It has 25 branches covering the Central and Northeastern areas. Its clients are mostly farmers, fisherfolks and small business entrepreneurs.
*Note: To maximize efficiency and reduce costs, this loan was posted using a template to automate the translation by Kiva. Given that manual translation of entrepreneur profiles is costly, Kiva created this template for our Field Partner to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.
About Alalay sa Kaunlaran, Inc.
This loan is made possible by Alalay sa Kaunlaran, Inc. (ASKI), which means “a partner in development.” ASKI has been in operation for 25 years and runs multiple successful initiatives in addition to microlending. Its main microfinance branch focuses on lending to microentrepreneurs, small farmers, and fisher folk. ASKI also provides microinsurance and marketing support for borrowers, as well as educational programs to develop the skills of both borrowers and staff. The ASKI Foundation funds community development projects such as a daycare feeding program and scholarships for children. ASKI Global helps overseas Filipinos develop entrepreneurial and financial skills to maximize the impact of remittances.