A loan of $3,675 helped a member to purchase materials needed to provide service.


Efren's Group's story

Efren T. Sr. is from the village of Barangcuag, Angadanan, Isabela. He is 57 years old and is the group leader of a eleven-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.

Efren is married and has four adult children. He owns and operates a furniture business. He has been engaged in his business for over eight years and earns approximately 10,000 PHP a month.

In 2006, Efren joined ASKI to gain access to financial services to help improve his living situation and his ability to engage in business activities. He is requesting a new loan of 24,000 PHP which will be used to purchase materials needed to provide service. This loan will be his seventh from ASKI.

Efren plans to use the additional revenue generated from his business to improve and expand his business.


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: Efren, Juliet, Jovito, Cely, Edna, Quirina, Estrella, Emerita, Rodolfo, Ruben, Victorina



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