Total loan: $3,275
Brgy.Vista Alegre,Bayombong,Nueva Vizcaya, Cagayan Valley, Philippines / Food
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A loan helped To purchase additional products to sell.
Herminia's Group's story
Herminia A. is from the village of Brgy. Vista Alegre, Bayombong, Nueva Vizcaya. She is 44 years old. Herminia is the group leader of a 12-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. Herminia is married and has four school-aged children. To make a living, Herminia owns & operates a business preparing and selling cooked food for daily meals. Herminia has been engaged in her business for over five years and earns approximately 6,000 PHP a month for these activities. In 2008, Herminia joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Herminia has successfully repaid a previous loan of 12,000 PHP from ASKI. This previous loan was used to purchase raw ingredients needed to make products for sale. Herminia is requesting a new loan of 12,000 PHP, which will be used to purchase additional products to sell. This loan will be the fourth loan taken out by Herminia from ASKI. She plans to use the additional revenue generated from the business to improve/expand the borrower's business. About ASKI: ASKI is one of the most successful microfinance institutions in the Philippines. It has 29 branches covering the Central and Northeastern areas. Its clients are mostly 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.