A loan of $2,450 helped a member to purchase fertilizers such as manure.

Ismael's Group's story

Ismael M. is from the village of Barucboc. He is 53 years old. Ismael is the group leader of an eight-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 Ismael's Group.

Ismael is married and has five school-aged children. To make a living, Ismael owns & operates a business planting and harvesting rice for sale. Ismael has been engaged in his business for over five years and earns approximately 35,000 per cropping for these activities.

In 2009, Ismael joined ASKI to gain access to financial services to help improve his living situation and ability to engage in business activities. Ismael has successfully repaid a previous loan of 8,000 PHP from ASKI. This previous loan was used to purchase fertilizers such as manure. Ismael is requesting a new loan of 16,000 PHP which will be used to purchase fertilizers such as manure. This loan will be the third loan taken out by Ismael from ASKI. He plans to use the additional revenue generated from the business to improve the general living conditions of his family.

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: Ismael, Jimmy, Eduardo, Richel, Joaquin, Aidalet, Felix, Michael

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