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Josephine's Group
In this Group: Josephine, Merly, Carmen, Nora, Mercedes, Monaliza, Merlina, Melanio
Josephine D. C. is from the village of Olango, Mallig, Isabela. She is 45 years old. Josephine is the group leader of an 8-member group loan offered by ASKI. While each member of the group receives an individual loan, they are all collectively responsible for paying back the loans of their fellow group members if someone is delinquent or defaults.



Josephine is married and has 6 school-aged children. To make a living, Josephine owns & operates a general store. The main source of income for the business comes from selling a variety of different products in the local community. Josephine has been engaged in her business for over 10 years and earns approximately 6,000 PHP a month for these activities.



In 2009, Josephine joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Josephine has successfully repaid a previous loan of 7,000 PHP from ASKI. This previous loan was used to to purchase additional products to sell. Josephine is requesting a new loan of 10,000 PHP which will be used to purchase new items to expand product offering. This will be the second loan taken out by Josephine from ASKI. She plans to use the additional revenue generated from the business to improve/expand her business.



About ASKI:



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, 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.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Philippines

  • $7,000
    Average annual income
  • 1496
    View loans »
    Philippines Loans Fundraising
  • $59,411,500
    Funds lent in using Kiva
  • 46.1
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A portion of Josephine's Group's $1,325 loan helped a member to purchase new items to expand product offering.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 12, 2010
Listed
Jan 21, 2010
Currency Exchange Loss:
Possible
Ended:
Jul 15, 2010