A loan of $1,775 helped a member to purchase materials needed in manufacturing.

Carmencita's Group's story

Carmencita R. is from the village of Quinagabian, Sta. Maria Isabela. She is 43 years old. Carmencita is the group leader of a seven-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 Carmencita R.'s Group.

Carmencita is married and has four school-aged children. To make a living, Carmencita owns & operates a business manufacturing & selling clay products to local businesses and community members. Carmencita has been engaged in her business for over 10 years and earns approximately 6,000 PHP a month for these activities.

In 2005, Carmencita joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Carmencita has successfully repaid a previous loan of 4,000 PHP from ASKI. Carmencita is requesting a new loan of 15,000 PHP, which will be used to purchase materials needed in to manufacture her items. She plans to use the additional revenue generated from the business to pay for the tuition fees for her children.

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: Carmencita, Marilyn, Yolanda, Emilia, Jimmy, Sharon, Cristina

Loan details

Lenders and lending teams

Loan details