A loan of $2,800 helped a member to purchase additional products to sell.

Imelda's Group's story

Imelda S. is from the village of Sagana, Santiago. She is 49 years old. Imelda is the group leader of a 12-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 Imelda S.'s group.

Imelda is married and has four school-aged children. To make a living, Imelda runs a general store, selling a variety of different products in the local community. Imelda has been engaged in her business for over six years and earns approximately 5,000 Philippine pesos a month for these activities.

In 2005, Imelda joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Imelda has successfully repaid a previous loan of 15,000 PHP from ASKI. This previous loan was used to purchase additional products to sell. Imelda is requesting a new loan of 20,000 PHP, which will also be used to purchase additional products to sell. This will be the ninth loan taken out by Imelda 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: Imelda, Melita, Arnold, Leonora, Erlinda, Solidad, Cresencia, Franelyn, Malvarosa, Perlita, Edaviges, Marilou

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