Cherisa M. is from the village of Calamagui, San Pablo. She is 42 years old. Cherisa is married and has four school-aged children. To make a living, Cherisa sells vegetables in the local community. Cherisa has been engaged in her business for over 15 years and earns approximately 6,000 Philippines pesos (PHP) a month from it.
In 2008, Cherisa joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Cherisa has successfully repaid a previous loan of 12,000 PHP from ASKI. This previous loan was used to purchase additional products to sell.
Cherisa is requesting a new loan of 10,000 PHP, which will be used to invest in expanding the business. This will be the fourth loan taken out by Cherisa from ASKI. She plans to use the additional revenue generated from the business to save as a reserve for future emergencies.
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 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.