A loan of $4,100 helped a member to purchase raw materials to make additional furniture.

Margarita's Group's story

Margarita A.'s main source of income comes from making and selling general household furniture to local businesses and community members. She is 58 years old, married and has four adult children. She is from the village of Allinguigan 3rd, Ilagan, Isabela. Margarita has been in her business for over 20 years and earns approximately 9,000 Philippine pesos (PHP) a month.

Margarita joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Margarita has successfully repaid a previous loan from ASKI which was used to purchase materials to make furniture. Margarita is requesting a new loan of 16,000 PHP which will be used to purchase raw materials to make additional furniture. She plans to use the additional revenue to improve and expand her business.

Margarita is the leader of a 20 member group accessing a loan offered by ASKI. While each member of the group receives an individual loan, they are 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 "Margarita A. Group".

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: Margarita, Aileen, Barbara, Conchita, Editha, Elena, Felicidad, Felicitas, Flora, Jocelyn, Maricel, Maricris, Marinel, Maryjane, Mercedes, Merlita, Myrna, Pastoreza, Tarcila, Teresita

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