A loan of $1,325 helped a member to purchase fertilizer such as manure.

Ferdinand's Group's story

Ferdinand V. is from the village of Alinam, Cauayan City. He is the group leader of a four-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.

Ferdinand is 42 years old, married, and has four school-aged children. He owns and operates a business planting and harvesting rice for sale. He has been engaged in his business for over ten years and earns approximately 20,000 every harvesting season.

In 2008, Ferdinand joined ASKI to gain access to financial services to help improve his living situation and his ability to engage in business activities. He is requesting a new loan of 17,000 PHP which will be used to purchase fertilizer such as manure. This loan will be his fourth from ASKI. He plans to use the additional revenue generated from the business to supplement his family's income.

About ASKI:
ASKI is one of the most successful microfinance institutions in the Philippines. It has twenty-one 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: Ferdinand, Ronald, Elmer, Alejandro

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