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

Edna's Group's story

Edna A.'s main source of income comes from preparing and selling cooked food for daily meals. She is a 54-year-old single woman from the village of Centro Sur, Alcala, Cagayan. Edna has been in her business for over eight years and earns approximately 3,000 Philippine pesos (PHP) a month.

In 2010, Edna joined ASKI to gain access to financial services to help improve her living conditions and enable her to engage in business activities. Edna is requesting a loan of 5,000 PHP which will be used to purchase raw ingredients needed to make products for sale. This will be her first loan from ASKI. She plans to use the additional revenue to save as a reserve for future emergencies.

Edna is the leader of a six member group accessing a loan offered by 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.

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, 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: Edna, Lourdes, Edna, Teofilo, Marcos, Nico Paul

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