A loan of $2,425 helped a member to repair a transport vehicle used in the business.

Josefina's Group's story

Josefina B. is from the village of Baculud, Iguig, Cagayan. She is 55 years old. Josefina is the group leader of an 11-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.

Josefina is married and has five adult children. To make a living, Josefina owns & operates a business providing transportation services to local community members. Josefina has been engaged in her business for over five years and earns approximately 3,000 PHP a month for these activities.

In 2009, Josefina joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Josefina has successfully repaid a previous loan of 5,000 PHP from ASKI. Josefina is requesting a new loan of 6,000 PHP, which will be used to repair a transport vehicle used in the business. This loan will be the second loan taken out by Josefina from ASKI. She plans to use the additional revenue generated from the business to financially support immediate members of her family.

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: Josefina, Jennifer, Myrna, Benita, Anthony, Felicita, Jossie, Edna, Melorna, Estelita*, Josefina

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