A loan of $2,700 helped a member to buy new items to sell.

Edwin's Group's story

Edwin M. is from the village of Alba in Baggao, Cagayan. He is 47 years old. Edwin is the leader of a 26-member group loan sponsored by ASKI. Although each member of the group receives an individual loan, they are all collectively responsible for repaying the loans of their fellow group members if someone is delinquent or defaults.

Edwin is single. To make a living, Edwin owns & operates a general store where he sells a variety of different products in the local community. Edwin has been engaged in his business for over 29 years and earns approximately 5,000 PHP a month from these activities.

In 2010, Edwin joined ASKI to gain access to financial services to help improve his living situation and ability to engage in business activities. Edwin is requesting a loan of 7000 PHP to purchase new items to expand his product offering. This will be Edwin's first loan from ASKI. He plans to use the additional revenue generated from the business to improve/expand his 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 of 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: Edwin, Cristina, Yvonne, Firma, Mila, Meridie, Florence, Visitacion, Emilio, Manny, Sunshine, Frenie, Teresita, Salvascion, Nena, Elizabeth, Aurelia, Gemma, Leticia, Mary Anne, Jocelyn, Luzviminda, Zenaida, Teresita, Josephine, Gigi

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