A loan of $1,125 helped a member to purchase new items to expand product offering.

Janeth's Group's story

Janeth M. is from the village of General Balao, Solana, Cagayan. She is 37 years old. Janeth is the group leader of a 7-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.

Janeth is married and has 3 school-aged children. To make a living, Janeth works in someone else's business venture in the retail sector, operating a specialized retail store. While not the only means for generating revenue, the main source of income for the business comes from selling daily use products such as shampoo, soap & toothpaste in the local community. Janeth has been engaged in her business for over 3 years and earns approximately 2000 PHP a month for these activities.

In 2009, Janeth joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Janeth has successfully repaid a previous loan of 5,000 PHP from ASKI. Janeth is requesting a new loan of 7,000 PHP which will be used to purchase new items to expand product offering. This will be the second loan taken out by Janeth from ASKI. She plans to use the additional revenue generated from the business to financially support immediate members of her family.

About ASKI:

ASKI is one of the most successful microfinance institutions in the Philippines. It has 21 branches covering the Central and Northeastern areas. Its clients are mostly of 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: Janeth, Clara, Rosemarie, Cathelene, Irene, Noel, Marlon

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Loan details