A loan of $2,575 helped a member to purchase raw materials to make furniture.

Simplicia's Group's story

Simplicia M. is 48 years old and is from the village of San Isidro. She is the group leader of a 15-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 the Simplicia M. Group.

Simplicia is married and has eight school-aged children. To make a living, she owns and operates a furniture making business. While not the only means for generating revenue, the main source of income for the business comes from making and selling general household furniture to local businesses and community members. Simplicia has been engaged in her business for over 18 years and earns approximately 15,000 PHP a month from these activities.

In 2008, Simplicia joined ASKI to gain access to financial services to help improve her living situation and her ability to engage in business activities. As with her previous loan of 12,000 PHP from ASKI which she has successfully repaid, this new loan of 12,000 PHP will also be used to purchase raw materials to make additional furniture. This will be the fifth loan she has taken out from ASKI. She plans to use the additional revenue generated from the business to improve/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 north-eastern areas. Its clients are mostly farmers, fisherfolk 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: Simplicia, Veronica, Mary, Gay, Lydia, Angela, Marilou, Susan, Judilyn, Janeth, Marivic, Marissa*, Emma, Olivia, Lolita
*not pictured

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