A loan of $4,125 helped a member to purchase additional inventory and as working capital.

Minerva's Group's story

Minerva D. is from the village of San Pedro, Alicia, Isabela. She is 50 years old. Minerva is the group leader of a 17-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.

Minerva is married and has 3 adult children. To make a living, Minerva owns & operates a business venture making & selling food. While not the only means for generating revenue, the main source of income for the business comes from selling candies, such as 'macapuno' and 'ube', to the local community. Minerva has been engaged in her business for over 5 years and earns approximately 5000 PHP a month for these activities.

In 2008, Minerva joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Minerva is requesting a new loan of 17,000 PHP which will be used to purchase additional inventory and as working capital. This will be the fourth loan taken out by Minerva from ASKI. She plans to use the additional revenue generated from the business to improve/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 of 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: Minerva, Claudette, Pilar, Ursula, Josefa, Teresita, Glory, Eliza, Minda, Merlita, Lucita, Jovelyn, Evelyn, Dominga, Tita, Linda, Mary Grace

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