A loan of $2,625 helped a member to purchase livestock feed & other supplies.

Myrna's Group's story

Myrna S. is from the village of Barcolan. She is 40 years old. Myrna is the group leader of 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 Myrna S.'s Group.

Myrna is married and has 2 school-aged children. To make a living, Myrna owns & operates a business raising livestock, specifically pigs, for fattening and resale. Myrna has been engaged in her business for over 25 years and earns approximately 5,000 PHP a month for these activities.

In 2006, Myrna joined ASKI to gain access to financial services to help improve her living situation and to have the ability to engage in business activities. Myrna has successfully repaid a previous loan of 12,000 PHP from ASKI. This previous loan was used to purchase livestock feed & other supplies. Myrna is requesting a new loan of 15000 PHP which will be used to purchase livestock feed & other supplies. This will be the ninth loan taken out by Myrna from ASKI. She plans to use the additional revenue generated from the business to improve/expand the borrower's business.

About ASKI:

ASKI is one of the most successful microfinance institutions in the Philippines. It has 29 branches covering the Central and Northeastern areas. Its clients are mostly of 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: Myrna, Yolanda, Maria, Pacita, Virgie, Carmela, Teresa, Rosita, Ma. Leonora, Flordeliza, Gloria, Mary Jane, Carmelita

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