A loan of $2,275 helped a member to purchase additional products to sell.

Josephine's Group's story

Josephine D. is from the village of Sto. Domingo. She is 45 years old. Josephine is the group leader of a 10-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 Josephine D..

Josephine is married and has 2 school-aged children. To make a living, Josephine owns & operates a specialized retail store selling snacks in the local community. Josephine has been engaged in her business for over 5 years and earns approximately 5000 PHP a month for these activities.

In 2009, Josephine joined ASKI to gain access to financial services to help improve her living situation and to have the ability to engage in business activities. Josephine has successfully repaid a previous loan of 7,000 PHP from ASKI. This previous loan was used to purchase additional products to sell. Josephine is requesting a new loan of 9000 PHP which will be used to purchase additional products to sell. This will be the third loan taken out by Josephine from ASKI. She plans to use the additional revenue generated from the business to improve and 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 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: Josephine, Hynoon, Dolly, Editha, Carmelita, Marivic, Edna, Helen, Mercedes, Analinda

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