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Marvin
Marvin O. is from the village of Macate Diffun Quirino. He is 20 years old and is single. To make a living, Marvin owns and operates a business raising crops. While not the only means for generating revenue, the main source of income for the business comes primarily from planting and harvesting corn for sale. Marvin has been engaged in his business for over 4 years and earns approximately 25,000 PHP per harvest.

In 2010, Marvin joined ASKI to gain access to financial services to help improve his living situation and ability to engage in business activities. Marvin is requesting a loan of 10,000 PHP which will be used to purchase additional seeds, seedlings and young crops to raise. This loan will be the 1st loan taken out by Marvin from ASKI. He plans to use the additional revenue generated from the business to improve/expand his business.

About ASKI:

ASKI is one of the most successful microfinance institutions in the Philippines. It has 38 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.

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

  • $1175
    Average annual income
  • 309
    View loans »
    Philippines Loans Fundraising
  • $50,697,350
    Funds lent in using Kiva
  • 43.9
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $250 helped Marvin to purchase additional seeds, seedlings and young crops to raise.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 28, 2010
Listed
Nov 12, 2010
Currency Exchange Loss:
Possible
Ended:
May 15, 2011