A loan of $1,775 helped a member to purchase livestock to raise and sell in the future.

Mercy's Group's story

Mercy L. is from the village of Awallan, Baggao, Cagayan. She is fifty years old. Mercy is the group leader of a nine-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.

Mercy is married and has three school-aged children. To make a living, Mercy owns and operates a business venture in the agriculture sector raising livestock. While not the only means for generating revenue, the main source of income for her business comes primarily from raising pigs for fattening and sale. Mercy has been engaged in her business for over four years and earns approximately 4,000 PHP a month for these activities.

In 2006, Mercy joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Mercy successfully repaid a previous loan of 10,000 PHP from ASKI. Mercy is requesting a new loan of 10,000 PHP, which she will use to purchase livestock to raise and sell in the future. This will be Mercy's ninth loan from ASKI. She plans to use the additional revenue generated from the business to pay her children's tuition fees.

About ASKI:

ASKI is one of the most successful microfinance institutions in the Philippines. It has twenty-five 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 Partners to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.

In this group: Mercy, Celestina, Marvelyn, Melma, Flovy, Mercy, Mercedita, Claribel, Cely

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