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Edna's Group
In this Group: Edna, Lourdes, Edna, Teofilo, Marcos, Nico Paul
Edna A.'s main source of income comes from preparing and selling cooked food for daily meals. She is a 54-year-old single woman from the village of Centro Sur, Alcala, Cagayan. Edna has been in her business for over eight years and earns approximately 3,000 Philippine pesos (PHP) a month.

In 2010, Edna joined ASKI to gain access to financial services to help improve her living conditions and enable her to engage in business activities. Edna is requesting a loan of 5,000 PHP which will be used to purchase raw ingredients needed to make products for sale. This will be her first loan from ASKI. She plans to use the additional revenue to save as a reserve for future emergencies.

Edna is the leader of a six member group accessing a loan offered by ASKI. While each member of the group receives an individual loan, they are collectively responsible for paying back the loans of their fellow group members, if someone is delinquent or defaults.

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

  • $7,000
    Average annual income
  • 1445
    View loans »
    Philippines Loans Fundraising
  • $59,252,950
    Funds lent in using Kiva
  • 45.6
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A portion of Edna's Group's $675 loan helped a member to purchase raw ingredients needed to make products for sale.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 8, 2010
Listed
Apr 1, 2010
Currency Exchange Loss:
Possible
Ended:
Sep 15, 2010