A loan of $775 helped a member to purchase additional inventory & working capital.

Mila Maniego Group's story

Mila M. is from the town of Lawy, Capas Tarlac. She is 38 years old. Mila is the group leader of a 7-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.

Mila is married and has 4 school-aged children. To make a living, Mila owns & operates a business venture in the retail sector running a general store. While not the only means for generating revenue, the main source of income for the business comes primarily from selling a variety of different products in the local community. Mila is just starting this business.

In 2010, Mila joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Mila is requesting a new loan of 5000 PHP which will be used to purchase additional inventory & working capital. This loan will be the first loan taken out by Mila from ASKI. She plans to use the additional revenue generated from the business to improve/expand her business.

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: Mila, Buena, Ma. Theresa, Elsa, Yolanda, Hyna, Marites

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