A loan of $4,250 helped a member to purchase new items to expand her product offerings.

Thelma's Group's story

Thelma S. is from the village of Brgy. Bonfal Proper, Bayombong, Nueva Vizcaya. She is forty-two years old. Thelma is the group leader of a thirteen-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.

Thelma is married. To make a living, She owns and operates a general store in the retail sector. While not the only means for generating revenue, the main source of income for the business comes primarily from selling daily-use products such as shampoo, soap, and toothpaste in the local community. Thelma has been engaged in her business for over ten years and earns approximately 7,500 PHP a month for these activities.

In 2006, Thelma joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Thelma successfully repaid a previous loan of 20,000 PHP from ASKI. She used this previous loan to purchase additional products to sell. Thelma is requesting a new loan of 22,000 PHP, which she will use to purchase new items to expand her product offerings. This will Thelma's ninth loan from ASKI. She plans to use the additional revenue generated from the business to improve and expand her business.

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: Thelma, Felicitas, Milagros, Daisy, Girlie, Marites, Melma, Marina, Rosalia, Ofelia, Darlindo, Eduardo, Zenaida

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