A loan of $2,450 helped a member to purchase additional products to sell.

Marilou's Group's story

Marilou G. is from the village of Padul, Solana, Cagayan. She is 28 years old. Marilou is the group leader of a 9-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.

Marilou is married and has one school-aged child. To make a living, Marilou owns and operates a business venture in the retail sector operating a specialized retail store. While not the only means for generating revenue, the main source of income for the business comes primarily from selling daily use products such as shampoo, soap and toothpaste in the local community. Marilou has been engaged in her business for over four years and earns approximately 2,000 PHP a month for these activities.

In 2006, Marilou joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Marilou has successfully repaid a previous loan of 7,000 PHP from ASKI. Marilou is requesting a new loan of 10,000 PHP which will be used to purchase additional products to sell. This loan will be the eighth loan taken out by Marilou from ASKI. She plans to use the additional revenue generated from the business to improve/expand the borrower's business.

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 of 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: Marilou, Alma, Nora, Aurelia, Maria Luz, Angelina, Margie, Leonila, Mely

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