A loan of $2,775 helped a member to purchase new items to expand product offering.

Nanita's Group's story

Nanita E. is from the village of Monguia, Dupax Del Norte, Nueva Vizcaya. She is 41 years old. Nanita 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.

Nanita is married and has three school-aged children. To make a living, Nanita owns and operates a business venture in the retail sector running a general store. While not the only means for generating revenue, the main source of income for the business comes primarily from selling both food and daily use products in the local community. Nanita has been engaged in her business for over eight years and earns approximately 6,000 PHP a month for these activities.

In 2007, Nanita joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Nanita has successfully repaid a previous loan of 7,000 PHP from ASKI. This previous loan was used to purchase additional products to sell. Nanita is requesting a new loan of 10000 PHP, which will be used to purchase new items to expand product offering. This loan will be the sixth loan taken out by Nanita from ASKI. She plans to use the additional revenue generated from the business to improve the general living conditions of the borrower's 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, fishermen 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: Nanita, Marceli Rose, Jenny Joy, Serafina, Leonida, Magdalena, Rowena, Precilla, Monaliza, Lita, Luzviminda

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