A loan of $3,250 helped a member to repair a transport vehicle used in his business.


Nonato's Group's story

Nonato B. Jr. is from the village of Imurong, Baggao, Cagayan. He is 36 years old and is the group leader of an eleven-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.

Nonato is married and has three school-aged children. He owns and operates a motorcycle transport business, providing transportation services to local community members. He has been engaged in his business for over eight years and earns approximately 5,000 PHP a month.

Nonato joined ASKI to gain access to financial services to help improve his living situation and his ability to engage in business activities. He is requesting a new loan of 5,000 PHP which will be used to repair a transport vehicle used in his business. This loan will be his first from ASKI.

Nonato plans to use the additional revenue generated from the business to financially support immediate members 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: Nonato, Felicidad, Victoria, Rodelyn, Antonio, Alvin, Arsenio, Joel, Myrna*, Evelina, Nieter
*not pictured



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