A loan of $2,375 helped a member to purchase additional products to sell.

Pacita Santos Group's story

Pacita S. is from the village of Punit. She is 51 years old and is the group leader of a 12-member group loan offered by ASKI. While each member of the group receives an individual loan, they are all collectively responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. The official name of this borrowing group is Pacita S..

Pacita is single and has 1 school-aged child. To make a living, Pacita owns and operates a general store, selling a variety of different products in the local community. Pacita has been engaged in her business for over 9 years and earns approximately 4,000 PHP a month from these activities.

In 2009, Pacita joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Pacita has successfully repaid a previous loan of 10,000 PHP from ASKI. This previous loan was used to purchase additional products to sell.

Pacita is requesting a new loan of 12,000 PHP which will be used to purchase additional products to sell. This loan will be the 4th loan taken out by Pacita from ASKI. She plans to use the additional revenue generated from the business to improve and expand her 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 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.

In this group: Pacita, Rufina, Susan, Annielice, Cecilia, Corazon, Decery, Dominga, Erlinda, Gloria, Jennifer, Juvilyn

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