A loan of $1,100 helped a member to repair a transport vehicle used in the business.

Teresita's Group's story

Teresita D. is from the village of Calao East Rizal. She is 49 years old. Teresita is the group leader of an 11-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. The official name of this borrowing group is Teresita's Group.

Teresita is married and has 3 adult children. Teresita owns & operates a service-based business. The main source of income for the business comes primarily from being a tricycle operator. Teresita has been engaged in her business for over 28 years and earns approximately 500 PHP a month from these activities.

In 2009, Teresita joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Teresita is requesting a new loan of 4,000 PHP which will be used to repair a transport vehicle used in the business. This loan will be the first loan taken out by Teresita from ASKI. She plans to use the additional revenue generated from the business 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, 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: Teresita, Anastacia, Charina, Helen, Mariesol, Lyn, Mayeth, Silvina, Elizabeth, Leonora, Maria Cecilia

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