A loan of $3,550 helped a member to purchase additional fabrics and materials.


Magdalena's Group's story

Magdalena G. is from the village of Larion Alto, Tuguegarao City. She is 48 years old. Magdalena is the leader of a 11-member loan group sponsored by ASKI. Although each member of the group receives an individual loan, they are collectively responsible for repaying the loans of their fellow group members if someone is delinquent or defaults.

Magdalena is married and has 2 school-aged children. To make a living, Magdalena owns and operates a tailoring business where she provides general alteration and tailoring services to local community members. Magdalena has been engaged in her business for over 2 years and earns approximately 5,000 PHP a month from these activities.

In 2006, Magdalena joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Magdalena has successfully repaid a previous loan of 5,000 PHP from ASKI. Magdalena is requesting a new loan of 5000 PHP to purchase additional fabrics and materials. This will be Magdalena's eighth loan from ASKI. She plans to use the additional revenue generated from the business to improve her house.

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: Magdalena, Aida, Asuncion, Isabel, Natividad, Rosita, Marivic, Melanie, Adriano*, Jeffrey, Bernardo
*not pictured



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