A loan of $2,850 helped a member to purchase raw materials to make additional furniture.


Martiza's Group's story

Martiza M. is from the town of San Dionicio, MadD., Quirino. She is 51 years old. Martiza is the group leader of a 26-member group loan offered by ASKI, a Kiva partner. 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 Martiza M.'s group.

Martiza is married and has 10 adult children. To make a living, Martiza owns and operates a furniture-making business. The main source of income for the business comes from making and selling general household furniture to local businesses and community members. Martiza has been engaged in her business for over 10 years and earns approximately 30,000 Philippine pesos a month for these activities.

In 2009, Martiza joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Martiza is requesting a new loan of 5,000 PHP, which will be used to purchase raw materials to make additional furniture. This will be the first loan taken out by Martiza 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 micro-finance institutions in the Philippines. It has 25 branches covering the Central and Northeastern areas. Its clients are mostly of 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: Martiza, Eden Myrah, Julieta, Ronalyn, Mary Jane, Carmelita, Fenie, Rosemarie, Teresa, Lyn, Marilyn, Gerry, Jhulpha, Jonalyn, Margie, Nida, Marilyn, Gina, Logen, Charles, Clara, Flordeliza, Roselyn, Melivel, Jasmin, Rubelyn



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