A loan of $925 helped a member to purchase additional products to sell.

Felipa Tinaza Group's story

"Obey God's word and have faith," said Felipa T., a simple villager of Leron Buguey, Cagayan. She is 49 years old. Felipa is the group leader of a seven-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 Felipa T.'s Group.

Felipa is widowed and has two school-aged children. To make a living, Felipa owns & operates a general store selling both food & daily use products in the local community. Felipa has been engaged in her business for over five years and earns approximately 6,000 PHP a month for these activities.

In 2010, Felipa joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Felipa is requesting a new loan of 7,000 PHP, which will be used to purchase additional products to sell. This loan will be the first loan taken out by Felipa from ASKI. She plans to use the additional revenue generated from the business to improve the general living conditions 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: Felipa, Imelda, Carmelita, Anabella, Merly, Severina, Anita

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