A loan of $2,275 helped a member to purchase additional products to sell.

Teresita's Group's story

Teresita D. is from the village of F.. She is 45 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 Teresita D.’s Group.

Teresita is married and has three adult children. She owns and operates a specialized retail store, selling used clothes in the local community. She is just starting this business.

In 2010, Teresita joined ASKI to gain access to financial services to help improve her living situation and her ability to engage in business activities. She is requesting a new loan of 5,000 PHP which will be used to purchase additional products to sell. This loan will be her first from ASKI.

Teresita 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-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: Teresita, Ma. Antonette, Adelaida*, Arsenia, Cely, Efelia, Elma, Erlinda, Erlinda, Evangeline, Imelda*, Ma Lourdes, Marina, Marissa, Minda, Rebelyn, Roda, Rosalinda, Rosita, Serlita*, Teresita

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