A loan of $850 helped a member to buy ingredients for her food business.

Helen's Group's story

Helen Y. is from the village of Palattao in Naguilian, Isabela. She is 50 years old. Helen is the leader of a 5-member loan group sponsored by ASKI. Although each member of the group receives an individual loan, they are collectively responsible for repaying the loans of their fellow group members if someone is delinquent or defaults. The official name of this borrowing group is Helen Y..

Helen is married and has 2 adult children. To make a living, Helen prepares and sells cooked food for daily meals. Helen has been engaged in her business for over 2 years and earns approximately 5000 PHP a month from these activities.

In 2009, Helen joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Helen has successfully repaid a previous loan of 5,000 PHP from ASKI. This previous loan was used to purchase ingredients for the food that she sells. Helen is requesting a new loan of 7000 PHP to buy more ingredients. This will be Helen's second loan from ASKI. She plans to use the additional revenue generated from the business to support her family.

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: Helen, Glenda, Imelda, Olivia, Elizabeth

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