A loan of $4,675 helped a member to purchase additional seeds, seedlings and young crops to raise.

Simeon's Group's story

Simeon T. is from the village of Carikkikan Norte. He is 44 years old and is the group leader of a twenty-one-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. The official name of this borrowing group is Simeon T..

Simeon is married and has three school-aged children. He owns and operates a business planting and harvesting rice for sale. He has been engaged in his business for over thirteen years and earns approximately 78,000 PHP every cropping season.

In 2010, Simeon joined ASKI to gain access to financial services to help improve his living situation and his ability to engage in business activities. He is requesting a loan of 10,000 PHP which will be used to purchase additional seeds, seedlings and young crops to raise. This loan will be his first from ASKI.

Simeon plans to use the additional revenue generated from the business to pay his children’s tuition fees.

About ASKI:
ASKI is one of the most successful microfinance institutions in the Philippines. It has twenty-one branches covering the Central and Northeastern areas. Its clients are mostly of farmers, fisherfolk 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: Simeon, Arnel, Balbino, Christopher, Dante, Domingo, Eduardo*, Erlindo*, Ferdinand, German, Jimuel, Jomer, Manuel, Mario, Melchor, Miguel, Raquel, Richard, Ronald, Samuel, Tirso
*not pictured

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