A loan of $1,750 helped a member to purchase livestock to raise and sell in the future.

Federico's Group's story

Federico B. is from the village of Gappal, Cauayan City, Isabela. He is fifty-one years old. Federico is the group leader of a five-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.

Federico is married and has five grown children. To make a living, Federico 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 the business comes primarily from raising pigs for fattening and sale. Federico has been engaged in his business for over ten years and earns approximately 7,500 PHP every four months through his business.

In 2006, Federico joined ASKI to gain access to financial services to help improve his living situation and ability to engage in business activities. Federico is requesting a new loan of 20,000 PHP, which he will use to purchase livestock to raise and sell in the future. This will be Federico's ninth loan from ASKI. He plans to use the additional revenue generated from the business to supplement his family's income.

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: Federico, Lorena, Rosalinda, Imelda, Felisa

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