A loan of $4,750 helped a member to purchase additional waste and junk material to resell.

Jocelyn's Group's story

Jocelyn P. is from the village of Nattapian West, Solana, Cagayan. She is 26 years old. Jocelyn is the group leader for a 19-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.

Jocelyn is married and has one infant child. To make a living, Jocelyn owns and operates a business that provides recycling services. While not the only means for generating revenue, the main source of income for the business comes from collecting junk and other waste material for local businesses and community members. Jocelyn has been engaged in her business for over two years, and earns approximately 5,000 PHP a month for these activities.

In 2009, Jocelyn joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Jocelyn has successfully repaid a previous loan of 10,000 PHP from ASKI. She is requesting a new loan of 13,000 PHP, which will be used to purchase additional waste and junk materials to sell. This loan will be the second loan taken out by Jocelyn from ASKI. She plans to use the additional revenue generated by the business to make improvements to her house.

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.

In this group: Jocelyn, Marie, Buena, Aida, Tomasa, Lina, Anna Lorraine, Juanito, Arlene, Rina, Romeo, Bonifacio, Lailanie, Jackielou, Elena, Julia, Primitiva, Genaro, Julia

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