A loan of $675 helped a member to purchase additional products to sell.


Vilma Cardona Group's story

Vilma C., from the village of Buena Suerte, Cauayan City, Isabela, is the 41-year-old leader of a five-member group loan offered by ASKI. While each member of the group receives an individual loan, they are collectively responsible for paying back the loans of their fellow group members if someone is delinquent or defaults.



Vilma, who is married and has 2 school-aged children, owns and operates a general store whose income derives primarily from selling daily-use products such as shampoo, soap and toothpaste in the local community. Vilma has been engaged in her business for over 15 years and earns approximately 9,000 PHP a month.



In 2007, Vilma joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Vilma is requesting a new loan, her third, of 7000 PHP which will be used to purchase additional products to sell. She plans to use the additional revenue generated from the business to pay 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 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 Partners to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.

In this group: Vilma, Estrella, Roland, Francisca, Romero



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