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Richel
Richel C. is from the village of Barucboc, Quezon, Isabela. She is 33 years old. Richel is married and has 3 school-aged children. To make a living, Richel owns & operates a business venture in the agriculture sector raising crops. While not the only means for generating revenue, the main source of income for the business comes primarily from planting and harvesting rice for sale. Richel has been engaged in her business for over 10 years and earns approximately 35000 PHP per harvest.

In 2009, Richel joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Richel has successfully repaid a previous loan of 18,000 PHP from ASKI. This previous loan was used to purchase fertilizers, such as manure. Richel is requesting a new loan of 23000 PHP, which will be used to pay for services to increase crop yield. This loan will be the 4th loan taken out by Richel 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, 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
  • 957
    View loans »
    Philippines Loans Fundraising
  • $54,434,500
    Funds lent in using Kiva
  • 43.3
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Richel to pay for services to increase crop yield.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Jan 26, 2011
Listed
Feb 21, 2011
Currency Exchange Loss:
Possible
Ended:
Jul 18, 2011