A loan of $325 helped a member to purchase additional products to sell.

Edmund's Group's story

Edmund G., from the village of Sto. Niño, Tumauini, Isabela, is the 36-year-old group leader of a four-member group 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 Edmund G..

Married with two school-aged children, Edmund owns and operates a specialized retail store whose main income comes from selling rice in the local community. Edmund has been engaged in his business for over a year and earns approximately 4,000 PHP a month.

In 2010, he joined ASKI to gain access to financial services to help improve his living situation and ability to engage in business activities. Edmund is now requesting a loan of 4000 PHP to purchase additional products to sell, and he plans to use the additional revenue generated from the business to improve/expand his store.

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 partners to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.

In this group: Edmund, Eufemia, Jessie, Remalyn

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