Karen W. is from the town of San Mariano, Isabela. She is 27 years old and single. To make a living, Karen owns and operates a clothing business. Karen has been engaged in her business for more than 3 years and earns approximately 7500 PHP a month for these activities.
In 2010, Karen joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. She successfully repaid a previous loan of 7,000 PHP from ASKI, which was used to purchase additional fabric and materials. Karen is requesting a new loan of 10000 PHP which will be used to invest in expanding the business by purchasing more clothes to sell. This loan will be the second loan taken out by Karen from ASKI. She plans to use the additional revenue generated from the business to improve and expand her business.
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, fishers 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.