A loan of $2,775 helped a member to purchase used bottles and newspapers to sell.

Tess' Group's story

Tess D. is from the city of Divisoria Santiago. She is 34 years old. Tess 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 Tess D.'s group.

Tess is married and has five school-aged children. To make a living, Tess owns & operates a business hauling junk & other waste material for local businesses and community members. Tess has been engaged in her business for over five years and earns approximately 4,500 PHP a month for these activities.

In 2004, Tess joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Tess has successfully repaid a previous loan of 18,000 PHP from ASKI. This previous loan was used to purchase used bottles and newspapers to sell. Tess is requesting a new loan of 18,000 PHP, which will be used to purchase used bottles and newspapers to sell. This loan will be the 13th loan taken out by Tess 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 29 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: Tess, Hariston, Teresita, Lourdes, Jennifer, Tessie, Adelaida, Virgilio, Lorna, Zenaida, Gerry, Rolando, Ruel

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