A loan of $900 helped a member to purchase new items to expand product offering.

Artemio's Group's story

Artemio N. is from the village of Masigun. He is 48 years old. Artemio is the group leader of a 3-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. The official name of this borrowing group is Artemio N.'s Group.

Artemio is married and has 3 adult children. To make a living, Artemio owns & operates a specialized retail store selling seafood products, including fish and shrimp, in the local community. Artemio has been engaged in his business for over 1 year and earns approximately 5,000 PHP a month for these activities.

In 2007, Artemio joined ASKI to gain access to financial services to help improve his living situation and to have the ability to engage in business activities. Artemio has successfully repaid a previous loan of 5,000 PHP from ASKI. This previous loan was used to purchase additional products to sell. Artemio is requesting a new loan of 10000 PHP which will be used to purchase new items to expand product offering. This will be the eighth loan taken out by Artemio from ASKI. He plans to use the additional revenue generated from the business to improve and expand his 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: Artemio, Eugenia, Antonia

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