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Lorena
Lorena M. is from the village of Nungnungan, Cauayan City, Isabela. She is 36 years old, is married and has three infant-aged children. To make a living, Lorena owns and operates a business venture in the food sector making and selling food. While not the only means for generating revenue, the main source of income for the business comes primarily from selling fish balls and other dim sums to the local community. Lorena is just starting this business.

In 2005, Lorena joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. She is requesting a new loan of 35,000 PHP which will be used to purchase raw ingredients needed to make products for sale. This loan will be the tenth loan which she has taken out from ASKI. She plans to use the additional revenue generated from the business to supplement the family's income.

About ASKI:

ASKI is one of the most successful microfinance institutions in the Philippines. It has 25 branches covering the central and north-eastern areas. Its clients are mostly farmers, fisherfolk and small 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.

Additional Information

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.

ASKI’s motto is “Together, let’s make things happen!” Join ASKI's Kiva Lending Team or view its website.

About Philippines

  • $1175
    Average annual income
  • 981
    View loans »
    Philippines Loans Fundraising
  • $54,497,425
    Funds lent in using Kiva
  • 46.4
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $775 helped Lorena to purchase raw ingredients needed to make products for sale.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 7, 2009
Listed
Dec 28, 2009
Currency Exchange Loss:
Possible
Ended:
Jun 15, 2010