A loan of $3,625 helped a member to purchase raw ingredients needed to make products for sale.

Luisa's Group's story

Luisa P.'s main source of income comes from making and selling dried fish in her community. She is 39 years old, married and has four school-age children. They are from the village of Lanna, Solana, Cagayan. Luisa has been in her business for over 15 years and earns approximately 2,000 Philippine pesos (PHP) a month.

In 2009, Luisa joined ASKI to gain access to financial services to help improve her living conditions and enable her to engage in business activities. Luisa has successfully repaid a previous loan of 5,000 PHP from ASKI. Luisa is requesting a new loan of 7,000 PHP which will be used to purchase raw ingredients needed to make products for sale. This will be her second loan from ASKI. She plans to use the additional revenue to improve and expand her business.

Luisa is the leader of a 13 member group accessing a loan offered by ASKI. While each member of the group receives an individual loan, they are 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: Luisa, Gloria, Rosemarie, Rosie, Elizabeth, Erlinda, Domingo, Isidra, Joewi, Sixta, Milagros, Mary Jane, Judith

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Loan details