A loan of $2,975 helped a member to purchase additional inventory and provide working capital.

Romeo's Group's story

Romeo C. is from the village of Centro 1, Angadanan, Isabela. He is 28 years old. Romeo 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.

Romeo is married and has two school-aged children. To make a living, Romeo owns and operates a business venture in the food sector making and selling food. While not the only means for generating revenue, the main source of income for the business comes primarily from selling breads, cakes and cookies to the local community. Romeo has been engaged in his business for over five years and earns approximately 2,000 PHP daily.

In 2006, Romeo joined ASKI to gain access to financial services to help improve his living situation and ability to engage in business activities. Romeo is requesting a new loan of 28,000 PHP which will be used to purchase additional inventory and provide working capital. This loan will be the eighth loan that he has taken out from ASKI. He plans to use the additional revenue generated from the business to improve/expand his business.

About ASKI:

ASKI is one of the most successful microfinance institutions in the Philippines. It has 25 branches covering the central and north-eastern 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 Partner to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.

In this group: Romeo, Mario, Marilyn, Nimfa, Lagrimas, Teresita, Jennelyn, Mary Esther, Clayde, Lourdes, Esmeralda, Rosalina, Josefina

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Loan details