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Minerva
Minerva Celosa dreams of escaping the spiral of poverty. In 1995, she joined ASHI (Ahon Sa Hirap, Inc.), an MFI and KIVA partner in the Philippines. Her hope was to gain access to capital in order to start a business. She and her husband started a business making kaing (small baskets). Since then, over the course of nine loans, her business has continued to grow and provide good income for her family. However, the income from the business is not enough to sustain everyday needs. Therefore, the couple is now requesting Minerva's tenth loan in the amount of 35,000 pesos to use as working capital to start a fishing business as supplementary income. The loan will be used to pay for fish netting and a motor boat, and the remaining funds will be used to support the raw materials needed for her kaing business.

Minerva is looking forward to increased demand for fish on the island and expects her secondary business to grow and generate enough income for her family. She dreams of sending her grandchildren to school all the way through college and for them to find stable livelihoods. Through her business success, she also dreams of building a home made of concrete for more comfortable living.

Minerva C. is happily living with her five children and her 62-year-old husband Marcial, who is a fisherman and kaing maker in the province of Rizal.

Additional Information

About ASHI

Ahon Sa Hirap, Inc. has the distinction of being the oldest existing replication of Grameen methodology for delivering credit to the poor in the Philippines. With more than a third of the nation’s 90 million Filipinos living below the poverty line, ASHI was established with the vision of helping to alleviate poverty in the Philippines. Translated from Tagalog, Ahon Sa Hirap means “to rise above poverty.”

Empowering women dedicated to supporting their families through hard work and dedication, ASHI lends 100% to women and specifically the bottom 50%, so the “poorest of the poor.” In addition to general business loans, ASHI also offers educational loans, house repair loans, savings funds, and social development programs for its members. ASHI is committed to translating its social mission into practice.

About Philippines

  • $1175
    Average annual income
  • 557
    View loans »
    Philippines Loans Fundraising
  • $53,351,450
    Funds lent in using Kiva
  • 44.9
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Minerva to pay for fish netting and a motor boat for a fishing business, and the remaining funds will be used to buy the raw materials needed for her basketmaking business.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 15, 2010
Listed
Apr 6, 2010
Currency Exchange Loss:
Covered
Ended:
Mar 15, 2012