A loan of $1,625 helped a member to purchase raw ingredients needed to make baked products for sale.

Leonida's Group's story

Leonida B., age 61, is from the village of Manaring. She is married and has children. Leonida is the group leader of a nine-member group loan offered through 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. Leonida's name is the official name of this borrowing group.

To make a living, Leonida owns and operates a business venture in the food sector, making and selling breads, cakes, and cookies to members of the local community. Leonida has been engaged in her business for over five years and earns approximately 5,000 PHP a month from these activities.

In 2009, Leonida joined ASKI to gain access to financial services. She wanted to help improve her living situation and increase her ability to engage in business activities. Leonida has successfully repaid a previous loan from ASKI. Leonida is now requesting a new loan of 10,000 PHP, which will be used to purchase raw ingredients needed to make her baked products for sale. This loan will be the second loan taken out by Leonida from ASKI. She plans to use the additional revenue generated from the business to improve and expand her 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 lenders.

In this group: Leonida, Felisa, Grace, Imelda, Aurora, Ma. Elena, Margie, Marilyn, Rosie
*not pictured

Loan details

Lenders and lending teams

Loan details