A loan of $1,250 helped a member to purchase raw ingredients needed to make food for sale.

Janeth's Group's story

Janeth M., 40, is from the village of Guibang, Gamu, Isabela. She is the group leader of a six-member group applying for 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.

Janeth is married and has two school-aged children. To make a living, she operates a business making and selling food. Janeth has been engaged in her business for over 20 years and earns approximately 6000 PHP a month.

In 2008, Janeth joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. She has successfully repaid a previous loan of 6,000 PHP from ASKI. Now she is requesting a new loan of 9000 PHP which will be used to purchase raw ingredients needed to make products for sale. This loan will be the fourth loan taken out by Janeth 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 quality and accurate information to Kiva lenders.

In this group: Janeth, Rubyrosa, Elma, Eugenia, Greta, Josie

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