A loan of $2,200 helped a member to purchase raw materials to expand product offerings.

Jocelyn's Group's story

Jocelyn J.'s main source of income comes from making and selling dining furniture to local businesses and community members. She is 41 years old, married and has eight school-age children. They are from the village of Annayatan, Baggao, Cagayan. Jocelyn has been in her business for over five years and earns approximately 5,000 Philippine pesos (PHP) a month.

In 2005, Jocelyn joined ASKI to gain access to financial services to help improve her living conditions and enable her to engage in business activities. Jocelyn has successfully repaid a previous loan of 5,000 PHP from ASKI. Jocelyn is requesting a new loan of 8,000 PHP which will be used to purchase raw materials to expand her product offerings. This will be her second loan from ASKI. She plans to use the additional revenue to improve and expand her business.

Jocelyn is the leader of a 15 member group accessing a 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.

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, fisherfolks 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: Jocelyn, Charilyn, Jemalyn, Evangeline, Marvilyn, Juliet, Luzviminda, Aireen, Marlene, Rodel, Merlita, April Joy, Larina, Rosevilla, Jesus
*not pictured

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