A loan of $975 helped a member to repair a vehicle used in her business.

Lucita's Group's story

Lucita M. is from the village of V.. She is 39 years old. Lucita is the group leader of a 7-member group 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 Lucita M..

Lucita is married and has 3 school-aged children. Lucita owns & operates a motorcycle transport business in the local community. Lucita has been engaged in her business for over five years and earns approximately 3,000 PHP a month.

In 2008, Lucita joined ASKI to gain access to financial services to help improve her living situation and her ability to engage in business activities. Lucita has successfully repaid a previous loan from ASKI. This previous loan was used to repair a vehicle used in her business. Lucita is requesting a new loan of 7,000 PHP which will also be used to repair a business vehicle. This loan will be the fifth loan taken out by Lucita from ASKI. She plans to use the additional revenue generated 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, fishermen 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: Lucita, Benita, Emily, Emma, Evangeline, Milagros, Vilma

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