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Virginia's Group
In this Group: Virginia, Victoria, Crisanta, Maribel, Marlyn, Thelma, Lydia
Virginia D., from the village of Calaocan, Cabatuan, Isabela, is the 39-year-old group leader of a seven-member group loan offered by ASKI. While each member of the group receives an individual loan, they are all responsible for paying back the loans of their fellow members if someone is delinquent or defaults.



A married mother of three school-aged children, Virginia owns and operates a service-based business providing manicure and pedicure services in the local community. Engaged in her business for over 29 years, she earns approximately 2000 PHP a month.



In 2008, Virginia joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Having repaid her previous loan of 5000 PHP from ASKI that was used to purchase materials needed to provide service, she is now requesting her second loan for 6000 PHP to purchase additional inventory and use as working capital. Virginia plans to use the additional revenue generated from the business to improve/expand her business.



About ASKI:

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.

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
  • 239
    View loans »
    Philippines Loans Fundraising
  • $53,079,075
    Funds lent in using Kiva
  • 43.4
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A portion of Virginia's Group's $1,000 loan helped a member to purchase additional inventory and use as working capital.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 16, 2010
Listed
Oct 16, 2010
Currency Exchange Loss:
Possible
Ended:
Mar 24, 2011