A loan of $1,975 helped a member to purchase new items to expand his product offering.

Tito's Group's story

Tito C. is from the village of San Roque. He is 41 years old and is the group leader of an eight-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 Tito C.'s Group.

Tito is married and has one school-aged child. Tito owns and operates a general store, selling a variety of different products in the local community. He has been engaged in his business for over five years and earns approximately 7,000 PHP a month.

In 2006, Tito joined ASKI to gain access to financial services to help improve his living situation and his ability to engage in business activities. He has successfully repaid a previous loan of 15,000 PHP from ASKI. This previous loan was used to purchase additional products to sell.

Tito is requesting a new loan of 15,000 PHP which will be used to purchase new items to expand his product offering. This loan will be his twelfth from ASKI. He plans to use the additional revenue generated from the business to improve the general living conditions of his family.

About ASKI:
ASKI is one of the most successful microfinance institutions in the Philippines. It has twenty-one branches covering the Central and Northeastern areas. Its clients are mostly of 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: Tito, Ruth, Jenilyn, Rebecca, Corazon, Ailyn, Wilson, Mardoqueo

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Loan details