A loan of $2,100 helped a member to purchase additional inventory & working capital.

Charibel's Group's story

Charibel M. is from the village of Bonfal Proper, Bayombong, Nueva Vizcaya. She is 29 years old. Charibel is the group leader of a 10-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.

Charibel married and has 1 school-aged child. To make a living, Charibel owns & operates a business venture in the retail sector running a general store. While not the only means for generating revenue, the main source of income for the business comes primarily from selling food products in the local community. Charibel has been engaged in her business for over 4 years and earns approximately 5000 PHP a month for these activities.

In 2008, Charibel joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Charibel has successfully repaid a previous loan of 9,000 PHP from ASKI. Charibel is requesting a new loan of 11000 PHP which will be used to purchase additional inventory & working capital. This loan will be the fourth loan taken out by Charibel from ASKI. She plans to use the additional revenue generated from the business to improve/expand the borrower's 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 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: Charibel, Romel, Diosdado, Dario, Richard, Federico, Ruperto, Vener, Teresita, Nancy

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