A loan of $2,925 helped a member to purchase additional products to sell.

Revelita's Group's story

Revelita C. is 61 years old and is from the town of Capirpiriwan Cordon. 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 Revelita C. group.

Revelita is married and has eight adult children. To make a living, she owns and operates a specialized retail store. While not the only means for generating revenue, the main source of income for the business comes from selling personal products such as glasses and watches in the local community. Revelita has been engaged in her business for over four years and earns approximately 4,500 PHP a month from these activities.

In 2006, Revelita joined ASKI to gain access to financial services to help improve her living situation and her ability to engage in business activities. She has successfully repaid a previous loan of 15,000 PHP from ASKI which was used to purchase new items to expand her product offering. Revelita is requesting a new loan of 18,000 PHP which will be used to purchase additional products to sell. This will be the eighth loan she has taken out from ASKI. She plans to use the additional revenue generated 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: Revelita, Leticia, Remedios, Danilo, Breni, Ma. Dolores, Cita, Lydia, Josephine, Marissa, Cresencia, Mylene, Arturo, Roditha, Andres

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