A loan of $1,225 helped a member to purchase new items to expand product offering.

Gladys' Group's story

Gladys R. is from the village of Villa Nueva. She is 23 years old. Gladys 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. The official name of this borrowing group is Gladys R.' Group.

Gladys is married and has 2 school-aged children. To make a living, Gladys owns & operates a general store. The main source of income for the business comes from selling a variety of different products in the local community. Gladys has been engaged in her business for over 2 years and earns approximately 3,000 PHP a month for these activities.

In 2009, Gladys joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Gladys has successfully repaid a previous loan of 6,000 PHP from ASKI. This previous loan was used to purchase additional products to sell. Gladys is requesting a new loan of 11,000 PHP, which will be used to purchase new items to expand product offering. This loan will be the third loan taken out by Gladys from ASKI. She plans to use the additional revenue generated from the business to improve/expand it.

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: Gladys, Mary Ann, Cresing, Myrna, Mary Jane, Mildred, Fortunata*
*not pictured

Loan details

Lenders and lending teams

Loan details