A loan of $675 helped a member to purchase raw ingredients needed to make products for sale.

Ma. Teresa's Group's story

Ma. Teresa J. is from the village of Mabini, Baggao, Cagayan. She is the leader of a six-member group loan offered by Kiva partner, ASKI. While each member of the group receives an individual loan, they are collectively responsible for paying back the loans of their fellow group members if someone is delinquent or defaults.

Ma. Teresa is 38 years old, married, and has two school-aged children. To make a living, she owns and operates a business venture in the food sector making and selling food. The main source of income for the business comes from selling fish balls and other dim sum to the local community. Ma. Teresa has been engaged in her business for over a year and earns approximately 3,000 PHP per month from these activities.

Ma. Teresa joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. She is requesting a loan of 5,000 PHP, which will be used to purchase raw ingredients needed to make products for sale. This loan will be her first from ASKI. She plans to use the additional revenue generated from the business 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 lenders.

In this group: Ma. Teresa, Perlita, Catherine, Clarita, Mary Jane, Melchora
*not pictured

Loan details

Lenders and lending teams

Loan details