Narissa C. is from Linao East, Tuguegarao City. She is 38 years old. Narissa is married and has four school-aged children. To make a living, Narissa provides motorcycle transport services to local community members. Narissa has been engaged in her business for more than 15 years and earns approximately 5000 PHP a month.
In 2005, Narissa joined ASKI to gain access to financial services to help improve her business and living situation. Narissa has successfully repaid a previous loan from ASKI. Now she is requesting a new loan of 25000 PHP, which she will use to purchase equipment to improve her business. This will be the ninth loan taken by Narissa from ASKI. She plans to use the additional revenue generated from the loan to improve the general living conditions of hers family.
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 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.
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.