A loan of $1,850 helped a member to purchase raw materials to manufacture additional products.


Renalyn's Group's story

Renalyn D. is from the village of Estefania, Amulung, Cagayan. She is 26 years old and is the group leader of a ten-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.

Renalyn is married and has two infant children. She owns and operates a manufacturing business, primarily manufacturing and selling iron products to local businesses and community members. She has been engaged in her business for over three years and earns approximately 4,500 PHP a month.

In 2010, Renalyn joined ASKI to gain access to financial services to help improve her living situation and her ability to engage in business activities. She is requesting a new loan of 5,000 PHP which will be used to purchase raw materials to manufacture additional products. This loan will be her first from ASKI.

Renalyn plans to use the additional revenue generated from the business to save as a reserve for future emergencies.


About ASKI:
ASKI is one of the most successful microfinance institutions in the Philippines. It has twenty-one branches covering the Central and Northeastern areas. Its clients are mostly of 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: Renalyn, Ginaro, Macaria, Aurea, Virginia, Ariel, Zenaida, Purisima, Marilyn, Evangeline



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