A loan of $3,175 helped a member to purchase additional products to sell.


Loreta's Group's story

Loreta P. is from the village of Villa D., Angadanan, Isabela.


She 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.


Loreta is 42 years old. She is married and has 4 school-age children. Loreta operates a general store where she sells food and daily use products to the local community. Loreta has been engaged in her business for over 5 years and earns approximately 8,000 PHP a month.


In 2008, Loreta joined ASKI to help improve her living situation and ability to engage in business activities. She is requesting her fourth loan, for 18,000 PHP, which she will use to purchase additional products to sell. Loreta plans to use the additional revenue to improve 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 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: Loreta, Gemma, Nora, Helen, Pacita, Rufina, Marieta, Marlene, Josie, Leonita, Marife, Teresita, Leonora



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