A loan of $1,525 helped a member to purchase additional products to sell.


Elsa Silao Group's story

Elsa S. is 38 years old and lives in the village of Pinoma, Cauayan City, Isabela. Elsa is the group leader of a 5-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.

Elsa is married and has 4 school-aged children. To make a living, Elsa owns and operates a general store, selling products such as shampoo, soap and toothpaste in the local community. Elsa has been engaged in her business for over six years and earns approximately 3,000 PHP a month from these activities.

Elsa joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Elsa is requesting a new loan of 10000 PHP which will be used to purchase additional products to sell. This loan will be the third loan taken out by Elsa from ASKI. She plans to use the additional revenue generated from the business to pay for the tuition fees of her children.

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 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.

In this group: Elsa, Nerissa, Merelyn, Lorna, Jocelyn



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