A loan of $2,275 helped a member to purchase additional inventory & working capital.

Claridel's Group's story

Claridel L. is from the village of Lucban, Benito Soliven, Isabela. She is 39 years old. Claridel is the leader of a nine-member group requesting a 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.

Claridel is married with two school-aged children. To make a living, she owns and operates a general store selling a variety of different products to the local community. She has done this for over 15 years and earns approximately 10000 PHP a month.

In 2005, Claridel joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Claridel has successfully repaid a previous loan from ASKI. Now she is requesting a new loan of 35000 PHP which will be used to purchase additional inventory and working capital. This will be the eleventh loan taken out by Claridel 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 25 branches covering the Central and Northeastern areas. Its clients are mostly farmers, fishermen, 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 accurate information to Kiva lenders.

In this group: Claridel, Mary Juliet, Jane, Judy, Leoncia, Lorae, Monica, Rosalinda, Vicky

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