Total loan: $2,100

Cherish's Group

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Rang-ayan, Roxas, Isabela, Cagayan Valley, Philippines / Food

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A loan helped To purchase additional products to sell.

Cherish's Group's story

Cherish C., from the village of Roxas, is the 42-year-old leader of a 13-member group loan offered by ASKI. While each member of the group receives an individual loan, they are 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 Rang-ayan.

Cherish, the married mother of five school-aged children, prepares and sells cooked food for daily meals. Engaged in her business for over 10 years, she earns approximately 3,000 PHP a month. In 2008, Cherish joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Having fully repaid a previous loan of 7,000 PHP from ASKI that was used to purchase additional products to sell, Cherish is requesting a new loan of 11000 PHP to purchase additional products to sell. She plans to use the additional revenue generated from the business to improve her enterprise.

About ASKI: ASKI is one of the most successful microfinance institutions in the Philippines. It has 25 branches covering the Central and Northeastern areas. Its clients are mainly 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 Partners to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.