A loan of $1,925 helped a member to purchase additional products to sell.


Luz's Group's story

Luz R. is from the village of Magsaysay. She is 43 years old. Luz is the group leader of a seven-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 Luz R..

Luz is married and has three school-aged children. To make a living, Luz owns and operates a specialized retail store, selling vegetables in the local community. Luz has been engaged in her business for over ten years and earns approximately $87 a month from this activity.

In 2008, Luz joined ASKI to gain access to financial services to help improve her living situation by engaging in business activities. Luz is requesting a loan of 17,000 PHP which will be used to purchase additional products to sell. This will be her 5th loan from ASKI. She plans to use the additional revenue generated to expand her business.

About ASKI:

ASKI is one of the most successful micro-finance institutions in the Philippines. It has 25 branches covering the Central and Northeastern areas. Its clients are mostly 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: Luz, Teresita, Gemma, Gilda, Honorata, Lilia, Lolita



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