A loan of $1,925 helped a member to invest in expanding the business.


Josefina's Group's story

Josefina Y.'s main source of income comes from raising pigs for fattening and sale. She is 37 years old, married and has two school-age children. They are from the village of San Pedro. Josefina has been in her business for over two years and earns approximately 5,000 Philippine pesos (PHP) a month.

In 2007, Josefina joined ASKI to gain access to financial services to help improve her living conditions and enable her to engage in business activities. Josefina has successfully repaid a previous loan of 13,000 PHP from ASKI which was used to purchase livestock to raise and sell. Josefina is requesting a new loan of 16,000 PHP which will be used to invest in expanding the business. This will be her seventh loan from ASKI. She plans to use the additional revenue generated from the business to pay the tuition fees of her children.

Josefina is the leader of a seven member group accessing a loan offered by ASKI. While each member of the group receives an individual loan, they are 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 "Josefina Y.'s Group".

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: Josefina, Flordeliza*, Relida, Teresita, Rosalia, Mailen Grace, Dolly
*not pictured



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