A loan helped a member to purchase new items to expand her range of products.

Marites' Group's story

Marites T. is from the village of San Bonifacio, Burgos, Isabela. She is 30 years old. Marites is the group leader of a five-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.

Marites is married and has two school-aged children. To make a living, Marites owns and operates a general store. While not the only means of generating revenue, the main source of income for the business comes from selling a variety of different products in the local community. Marites has been engaged in her business for over 13 years and earns approximately 5,000 PHP a month for these activities.

In 2009, Marites joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Marites has successfully repaid a previous loan of 7,000 PHP from ASKI. This previous loan was used to to purchase additional products to sell. Marites is requesting a new loan of 15,000 PHP, which will be used to purchase new items to expand her range of products offered. This loan will be the third loan taken out by Marites from ASKI. She plans to use the additional revenue generated by the business to improve and expand the 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, 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.

In this group: Marites, Manuel, Arsenio, Lordinio, Melchor

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