A loan of $2,300 helped a member to purchase new items to expand her product offering.


Julieta's Group's story

Julieta V. is from the village of Mocag, Baggao, Cagayan. She is 48 years old and the leader of a 13-member group loan offered by Kiva partner, 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.

Julieta is married and has four adult-aged children. To make a living, she owns and operates a specialized retail store. The main source of income for the business comes from selling daily use products such as shampoo, soap and toothpaste in the local community. Julieta has been engaged in her business for over a year and earns approximately 3,000 PHP a month from these activities.

In 2009, Julieta joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. She has successfully repaid a previous loan of 5,000 PHP from ASKI. Julieta is requesting a new loan of 10,000 PHP, which will be used to purchase new items to expand her product offering. This loan will be her second 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 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: Julieta, Avelina, Veneranda, Rosalie, Gemma, Thelma, Josephine, Erlinda, Lagrimas, Rowena, Eden, Norma, Rizalina
*not pictured



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