100%

funded

Total loan: $700

Cecilia's Group

Allinguigan 1st, Naguillan, Isabela, , Philippines / Food

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A loan helped to purchase additional products to sell.


Cecilia's Group's story

Cecilia R. is from the village of Allinguigan. She is 48 years old. Cecilia is the group leader of a 6-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. The official name of this borrowing group is Cecilia R.. Cecilia is married and has 8 school-aged children. To make a living, Cecilia owns & operates a business venture in the retail sector operating a specialized retail store. While not the only means for generating revenue, the main source of income for the business comes primarily from selling vegetables, meat and snacks in the local community. Cecilia has been engaged in her business for over 11 years and earns approximately 4500 PHP a month for these activities. In 2010, Cecilia joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Cecilia is requesting a new loan of 5000 PHP which will be used to purchase additional products to sell. This loan will be the 1st loan taken out by Cecilia 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 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.