A loan of $2,500 helped a member to purchase new items to expand product offering.

Teresita's Group's story

Teresita A. is from the village of Gappal, Cauayan City, Isabela. She is 42 years old. Teresita is the group leader of a 7-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.

Teresita is married and has 4 school-aged children. To make a living, Teresita owns & operates a general store. The main source of income for the business comes from selling both food & daily use products in the local community. Teresita has been engaged in her business for over 21 years and earns approximately 8,000 PHP a month for these activities.

In 2007, Teresita joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Teresita is requesting a new loan of 35,000 PHP, which will be used to purchase new items to expand product offering. This loan will be the sixth loan taken out by Teresita from ASKI. She plans to use the additional revenue generated from the business to pay her children's tuition fees.

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, 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, Loreley, Evangelyn, Remy, Evangelyn, Adelaida, Freddie
*not pictured

Loan details

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Loan details