A loan of $1,750 helped a member to purchase additional inventory and as working capital.

Nida's Group's story

Nida G. is from the village of Villa Luna, Cauayan City, Isabela. She is 48 years old. Nida is the group leader of a 6-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.

Nida is married and has three school-aged children. To make a living, Nida owns & operates a general store. While not the only means for generating revenue, the main source of income for the business comes from selling both food & daily use products in the local community. Nida has been engaged in her business for over 9 years and earns approximately 6000 PHP a month for these activities.

In 2009, Nida joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Nida has successfully repaid a previous loan of 12,000 PHP from ASKI. This previous loan was used to purchase additional inventory and as working capital. Nida is requesting a new loan of 18,000 PHP which will be used to purchase additional inventory and as working capital. This will be the 4th loan taken out by Nida from ASKI. She 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 38 branches covering the Central and Northeastern areas. Its clients are mostly of 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: Nida, Maria, Felicitas, Mylene, Estelita, Cecilia

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