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Josephine's Group
In this Group: Josephine, Aida, Lilibeth, Marcelo, Maribel, Marilyn, Rowena, Susana, Vilma, Violeta, Ofelia, Amelia
Josephine P.'s main source of income comes from selling personal products such as lotion and underwear in her community. She is 44 years old, married and has five school-aged children. They are from the village of Minallo, Naguilian, Isabela. Josephine has been in her business for over three years and earns approximately 5,000 Philippine pesos (PHP) a month.

In 2007, Josephine joined ASKI to gain access to financial services to help improve her living conditions and enable her to engage in business activities. Josephine has successfully repaid a previous loan of 18,000 PHP from ASKI which was used to purchase products to sell. Josephine is requesting a new loan of 22,000 PHP which will be used to purchase additional products to sell. This will be her seventh loan from ASKI. She plans to use the additional revenue to improve and expand her business.

Josephine is the leader of a 12 member group accessing a 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. The official name of this borrowing group is "Josephine P.".

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, fisherfolks 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

  • $1175
    Average annual income
  • 1295
    View loans »
    Philippines Loans Fundraising
  • $56,301,400
    Funds lent in using Kiva
  • 46.7
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A portion of Josephine's Group's $3,275 loan helped a member to purchase additional products to sell.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 15, 2010
Listed
Feb 8, 2010
Currency Exchange Loss:
Possible
Ended:
Jul 15, 2010