A loan of $2,675 helped a member to purchase additional inventory and working capital.

Marissa's Group's story

Marissa B. is from the village of Sonquil, Sta. Barbara, Pangasinan. She is 35 years old and is the group leader of an 8-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 Marissa B. Group.

Marissa is married and has 3 school-aged children. To make a living, Marissa owns and operates a business venture in the food sector, operating a butcher shop in the market. While not the only means for generating revenue, the main source of income for the business comes primarily from butchering and selling a variety of meats in the market. Marissa has been engaged in her business for over 1 year and earns approximately 6000 PHP a month for these activities.

In 2008, Marissa joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Marissa has successfully repaid a previous loan of 15000 PHP from ASKI. This previous loan was used to to purchase additional products to sell. Marissa is now requesting a new loan of 20000 PHP which will be used to purchase additional inventory and working capital. This loan will be the fourth loan taken out by Marissa from ASKI. She plans to use the additional revenue generated from the business to financially support immediate members of her family.

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, 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 Partner to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.

In this group: Marissa, Anselma, Gerlie, Venus, Judy, Zenaida, Maribeth, Mayda

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