A loan of $2,825 helped a member to invest in expanding the business.

Teresa's Group's story

Teresa A. is from the village of Bungad, San Pablo, Isabela. She is 35 years old. Teresa is the group leader of a nine-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.

Teresa is married and has three school-aged children. To make a living, Teresa owns & operates a business selling ice cream to the local community. Teresa has been engaged in her business for over three years and earns approximately 3,000 PHP a month for these activities.

Teresa joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Teresa is requesting a new loan of 4,000 PHP, which will be used to invest in expanding the business. This loan will be the first loan taken out by Teresa from ASKI. She plans to use the additional revenue generated from the business to financially support immediate members of her family.

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, 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: Teresa, Rita, Teresita, Vangie, Josephine, Jose, Jennifer, Elvita, William

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