A loan of $1,025 helped a member to purchase additional inventory and for working capital.

Marieta's Group's story

Marieta A. is from the village of Bued, Calasiao, Pangasinan Province. She is 54 years old. Marieta is the group leader for a three-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.

Marieta is widowed and has four adult children. To make a living, Marieta owns and operates a specialized retail store. While not the only means for generating revenue, the main source of income for the business comes from selling cosmetics, clothing and shoe products in the local community. Marieta has been engaged in her business for over three years and earns approximately 3,000 PHP a month for these activities.

In 2007, Marieta joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Marieta has successfully repaid a previous loan from ASKI. This previous loan was used to purchase additional products to sell. Marieta is requesting a new loan of 13,000 PHP, which will be used to purchase additional inventory and as working capital. This loan will be Marieta's seventh loan from ASKI. She plans to use the additional revenue to improve the general living conditions of her family.

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: Marieta, Rosalinda, Elena

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Loan details