A loan of $650 helped a member to improve her business by purchasing additional inventory and by expanding her working capital.

Gloria's Group's story

Gloria D. C. is a 34-year-old, married woman from the city of Balutu, Concepcion, Tarlac. She and her husband have 3 school-age children. Gloria is the group leader of a 5-member loan group administered via 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 one of them is delinquent or defaults on their loan.

To earn a living, Gloria owns and operates a business venture in the retail sector. Specifically, she operates a specialized retail store, where she sells goods to her fellow community members. Gloria has been engaged in this business for over 13 years and earns approximately 4,500 PHP per month from these activities.

In 2009, Gloria joined ASKI to gain access to financial services. In turn, she was able to engage in business activities and to thereby improve her standard of living. Gloria recently successfully repaid a prior loan in the amount of 6,000 PHP from ASKI. This previous loan was used to to purchase new items in order to expand her product offering. Gloria is now requesting another loan, this time in the amount of 8,000 PHP (though the total loan amount being sought by the group is 29,000 PHP, or $650), which will be used to purchase additional inventory and expand her working capital. Notably, this loan would be the third loan taken out by Gloria from ASKI. She plans to use the additional revenue generated from the business to further improve/expand her business.

About ASKI: ASKI is one of the most successful microfinance institutions in the Philippines. It has 29 branches, which cover the Central and Northeastern areas of the country. Its clients are mostly farmers, fishermen/women, and entrepreneurs.

In this group: Gloria, Loreta, Beverlyn, Lizel, Nerissa

Loan details

Lenders and lending teams

Loan details