A loan of $1,300 helped a member to purchase additional seeds, seedlings and young crops to raise.

Renato's Group's story

Renato B. is from the village of Bungad Calamagui San Pablo, Isabela. He is 45 years old. Renato is the group leader of a six-member group loan offered by ASKI, one of Kiva's field partners. 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 Bungad Group.

Renato is married and has five school-aged children. To make a living, Renato owns and operates a business raising crops. He plants and harvests corn for sale. Renato has been engaged in his business for over twenty years and earns approximately $430 every harvest season.

In 2009, Renato joined ASKI to gain access to financial services to help improve his living situation by engaging in business activities. Renato is requesting a loan of 10,000 PHP which will be used to purchase additional seeds, seedlings and young crops to raise. This will be his 1st loan from ASKI. He plans to use the additional revenue generated from the business to improve the general living conditions of his family.

About ASKI:

ASKI is one of the most successful micro-finance institutions in the Philippines. It has 25 branches covering the Central and Northeastern areas. Its clients are mostly of 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.

In this group: Renato, Norma, Conception, Tito, Charles, Hilaria

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