A loan of $1,350 helped a member to purchase additional products to sell.

Lorna's Group's story

Lorna S. is from the village of General Balao, Solana, Cagayan. She is 46 years old. Lorna 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.

Lorna is married and has six adult-aged children. To make a living, Lorna owns and operates a specialized retail store, selling seafood products, including fish and shrimp, in the local community. Lorna has been engaged in her business for over ten years and earns approximately $130 a month from this activity.

In 2005, Lorna joined ASKI to gain access to financial services to help improve her living situation and her ability to engage in business activities. Lorna has successfully repaid a previous loan of 9,000 PHP from ASKI. Lorna is requesting a new loan of 12,000 PHP which will be used to purchase additional products to sell. This will be her 4th loan from ASKI. She plans to use the additional revenue generated to improve 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 farmers, fisherfolk 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: Lorna, Ines, Myrna, Normie, Marites, Elisa, Thelma

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