Total loan: $1,050

Marissa's Group

Tueg Bitag Grande, Tuguegarao, Cagayan, , Philippines / Agriculture

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A loan helped to purchase baby livestock to raise and sell in the future.

Marissa's Group's story

Marissa V. is from the village of Tueg Bitag Grande, Baggao, Cagayan. She is 30 years old. Marissa is the group leader of a 7-member group loan offered by ASKI/Kiva. 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. Marissa is married and has 3 young children. Marissa owns and operates a business raising livestock. The main source of income for the business comes from raising pigs for fattening and for resale. Marissa has been involved in her business for over 3 years and earns approximately 3000 PHP a month from these activities. In 2007, Marissa joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Marissa has successfully repaid a previous loan of 8,000 PHP from ASKI. Marissa is requesting a new loan, her second, which will be used to purchase baby livestock to raise and sell in the future. She plans to use the additional revenue generated from the business to save as a reserve for future emergencies. 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 mostly 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.