A loan of $1,475 helped a member to purchase additional inventory & working capital.

Rosemarie's Group's story

Rosemarie S. is from the village of Rang-Ayan. She is 38 years old. Rosemarie is the group leader of a 7-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 Rosemarie's Group.

Rosemarie is married and has four school-aged children. To make a living, Rosemarie owns & operates a business preparing and selling cooked food for daily meals. Rosemarie has been engaged in her business for over one year and earns approximately 8,000 PHP a month for these activities.

In 2007, Rosemarie joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Rosemarie has successfully repaid a previous loan of 10,000 PHP from ASKI. This previous loan was used to purchase raw ingredients needed to make products for sale. Rosemarie is requesting a new loan of 20,000 PHP, which will be used to purchase additional inventory & working capital. This loan will be the sixth loan taken out by Rosemarie from ASKI. She plans to use the additional revenue generated from the business to improve/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, fisherfolks 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: Rosemarie, Susan, Apolonia, Marilyn, Virginia, Josephine, Robert

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