A loan of $3,150 helped a member to purchase additional products to sell.

Marie Gay Rose's Group's story

Marie Gay Rose R. is from the village of Magsaysay. She is 42 years old. Marie Gay Rose is the group leader for a 13-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 Marie Gay Rose R. Group.

Marie Gay Rose is married and has two school-aged children. To make a living, Marie Gay Rose owns and operates a general store. While not the only means for generating revenue, the main source of income for the business comes from selling a variety of different products in the local community. Marie Gay Rose has been engaged in her business for over five years and earns approximately 8,000 PHP a month for these activities.

In 2007, Marie Gay Rose joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Marie Gay Rose has successfully repaid a previous loan of 16,000 PHP from ASKI. This previous loan was used to purchase additional products to sell. Marie Gay Rose is requesting a new loan of 19,000 PHP, which will also be used to purchase additional products to sell. This loan will be her seventh loan from ASKI. She plans to use the additional revenue to improve and 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 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: Marie Gay Rose, Andrea, Clotilde, Edlie, Evangeline, Fely*, Josefina, Mildred, Nida, Rosario, Roslyn, Sweetie Pie, Teresita*
*not pictured

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