A loan of $1,000 helped a member to purchase additional products.

Leonice's Group's story

Leonice A. is from the village of Buenavista, Santiago. She is 51 years-old. Leonice is the leader of a 10-member group loan offered by Kiva partner 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. The official name of this borrowing group is Leonice Group.

Leonice is married and has five adult children. Leonice owns and operates a business venture running a general store, tailoring and selling viand (prepared foods). While not the only means for generating revenue, the main source of income for the business comes from selling a variety of different products in the local community. Leonice has been engaged in her business for over 10 years and earns approximately 1,000 PHP tailoring and 500 PHP from her store weekly.

In 2009, Leonice joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Leonice is requesting a first loan of 5,000 PHP which will be used to purchase additional products to sell. She plans to use the additional revenue generated to improve and 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 farmers, fishers 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: Leonice, Sheryl, Merlita, Carmelita, Suzette, Marilou, Marilyn, Ma. Christina, Jenalyn, Laida

Loan details

Lenders and lending teams

Loan details