A loan of $1,500 helped a member to purchase additional products to sell.

Mardy's Group's story

Mardy C. is from the village of Luna. She is 44 years old. Mardy is the group leader of a 13-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.

Mardy is single. To make a living, Mardy owns & operates a specialized retail store. The main source of income for the business comes from selling personal products from Personal Collection, MSE, Sundance, BoardWalk and AVON in the local community. Mardy has been engaged in her business for over 4 years and earns approximately 5,000 PHP a month for these activities.

In 2008, Mardy joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Mardy is requesting a new loan of 8,000 PHP which will be used to purchase additional products to sell. This will be the third loan taken out by Mardy from ASKI. She plans to use the additional revenue generated from the business to improve/expand her business.

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 comprised 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: Mardy, Alma, Lolita, Evelyn, Vanessa, Leonora, Ma. Teresa, Eva, Milagrina, Marcel, Julieta, Elvita, Aurelia

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