A loan of $3,275 helped a member to purchase additional products to sell.

Josephine's Group's story

Josephine P.'s main source of income comes from selling personal products such as lotion and underwear in her community. She is 44 years old, married and has five school-aged children. They are from the village of Minallo, Naguilian, Isabela. Josephine has been in her business for over three years and earns approximately 5,000 Philippine pesos (PHP) a month.

In 2007, Josephine joined ASKI to gain access to financial services to help improve her living conditions and enable her to engage in business activities. Josephine has successfully repaid a previous loan of 18,000 PHP from ASKI which was used to purchase products to sell. Josephine is requesting a new loan of 22,000 PHP which will be used to purchase additional products to sell. This will be her seventh loan from ASKI. She plans to use the additional revenue to improve and expand her business.

Josephine is the leader of a 12 member group accessing a 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. The official name of this borrowing group is "Josephine P.".

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: Josephine, Aida, Lilibeth, Marcelo, Maribel, Marilyn, Rowena, Susana, Vilma, Violeta, Ofelia, Amelia

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