A loan of $1,375 helped a member to purchase livestock to raise and sell in the future.

Mercedes' Group's story

Mercedes M. is from the village of Malamag East. She is 50 years old. Mercedes is the group leader of a eight-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 Mercedes M..

Mercedes is widowed and has four school-aged children. To make a living, Mercedes raises pigs for fattening and sale. Mercedes has been engaged in her business for over four years and earns approximately 6,000 PHP whenever she sells an animal.

In 2008, Mercedes joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Mercedes has successfully repaid a previous loan of 8,000 PHP from ASKI. Mercedes is requesting a new loan of 5,000 PHP, which will be used to purchase livestock to raise and sell in the future. This loan will be the fifth loan taken out by Mercedes from ASKI. She plans to use the additional revenue generated from the business to improve/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 of 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: Mercedes, Benedicto, Cristeta, Rosevida, Vilma*, Lailanie, Leonisa, Nicolas
*not pictured

Loan details

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Loan details