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Nonato's Group
In this Group: Nonato, Felicidad, Victoria, Rodelyn, Antonio, Alvin, Arsenio, Joel, Myrna*, Evelina, Nieter
* not pictured
Nonato B. Jr. is from the village of Imurong, Baggao, Cagayan. He is 36 years old and is the group leader of an eleven-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.

Nonato is married and has three school-aged children. He owns and operates a motorcycle transport business, providing transportation services to local community members. He has been engaged in his business for over eight years and earns approximately 5,000 PHP a month.

Nonato joined ASKI to gain access to financial services to help improve his living situation and his ability to engage in business activities. He is requesting a new loan of 5,000 PHP which will be used to repair a transport vehicle used in his business. This loan will be his first from ASKI.

Nonato plans to use the additional revenue generated from the business to financially support immediate members of his family.


About ASKI:
ASKI is one of the most successful microfinance institutions in the Philippines. It has twenty-one branches covering the Central and Northeastern areas. Its clients are mostly of 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

  • $1175
    Average annual income
  • 372
    View loans »
    Philippines Loans Fundraising
  • $50,935,875
    Funds lent in using Kiva
  • 44.7
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A portion of Nonato's Group's $3,250 loan helped a member to repair a transport vehicle used in his business.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 27, 2010
Listed
Jun 1, 2010
Currency Exchange Loss:
Possible
Ended:
Nov 15, 2010