A loan of $2,175 helped a member to purchase additional raw materials to expand product offerings.

Magielyn's Group's story

Magielyn V. is from the village of Brgy.Bonfal Proper, Bayombong,Nueva Vizcaya. She is 38 years old. Magielyn is the group leader of a 7-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.

Magielyn is married and has 3 school-aged children. To make a living, Magielyn owns & operates a furniture making business, and she sells general household furniture to local businesses and community members. Magielyn has been engaged in her business for over 9 years and earns approximately 8000 PHP a month for these activities.

In 2007, Magielyn joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Magielyn repaid her previous loan of 20,000 PHP from ASKI. This previous loan was used to purchase raw materials to make additional furniture. Magielyn is requesting a new loan of 20000 PHP which will be used to purchase additional raw materials to expand product offerings. This loan will be the seventh loan taken out by Magielyn from ASKI. She plans to use the additional revenue generated from the business to improve and 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 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: Magielyn, Wagner, Erlinda, Cynthia, Lilia, Elena, Virginia

Loan details

Lenders and lending teams

Loan details