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Ricarte
Ricarte B. is from the village of San Isidro, Baggao, Cagayan. He is 47 years old, married, and has five school-aged children. To make a living, Ricarte operates a motorcycle transport service. He has been engaged in his business for over three years and earns approximately $75 a month from this activity.

Ricarte joined ASKI to gain access to financial services to help improve his living situation and ability to engage in business activities. He is requesting a loan of 7,000 PHP which will be used to repair his existing vehicle in order to provide better service. This will be his first loan from ASKI. He plans to use the additional revenue generated from the business to pay the tuition fees of his children.

About ASKI:

ASKI is one of the most successful micro-finance institutions in the Philippines. It has 29 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.

About Philippines

  • $7,000
    Average annual income
  • 1436
    View loans »
    Philippines Loans Fundraising
  • $59,280,625
    Funds lent in using Kiva
  • 46.5
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $175 helped Ricarte to repair his existing vehicle to provide better service.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 20, 2010
Listed
Jul 1, 2010
Currency Exchange Loss:
Possible
Ended:
Nov 15, 2010