A loan of $1,250 helped a member to purchase additional products to sell.

Lerma's Group's story

Lerma R. is from the town of San Antonio Jones,Isabela. She is 43 years old. Lerma is the group leader of a nine-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 Lerma R. group.

Lerma is married and has two school-aged children. She owns and operates a general store, selling a variety of different products in the local community. She has been engaged in her business for over five years and earns approximately 1,000 PHP weekly.

In 2009, Lerma joined ASKI to gain access to financial services to help improve her living situation and her ability to engage in business activities. She is requesting a new loan of 7,000 PHP which will be used to purchase additional products to sell. This loan will be her second loan 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 of 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: Lerma, Prisinta, Susana, Bellie Grace, Lolinda, Joan, Capianila, Marlyn, Shirley

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Loan details