Arcelie V. is from the village of Holy Friday. She is 49 years old. Arcelie is married and has 3 school-aged children. To make a living, Arcelie owns & operates a business venture in the retail sector running a general store. While not the only means for generating revenue, the main source of income for the business comes primarily from selling a variety of different products in the local community. Arcelie has been engaged in her business for over 10 years and earns approximately 3000 PHP a month for these activities.
In 2006, Arcelie joined ASKI to gain access to financial services to help improve her living situation and her ability to engage in business activities. Arcelie has successfully repaid a previous loan of 15000 PHP from ASKI. This previous loan was used to purchase additional products to sell. Arcelie is requesting a new loan of 12000 PHP which will be used to purchase new items to expand her product offering. This will be the ninth loan taken out by Arcelie from ASKI. She plans to use the additional revenue generated from the business to financially support immediate members of her family.
ASKI is one of the most successful microfinance institutions in the Philippines. It has 29 branches covering the Central and Northeastern areas. Its clients are mostly of 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.
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.