A loan of $2,075 helped a member to purchase new items to expand her product offering.

Rosita's Group's story

Rosita B. is from the village of Brgy. La Torre North, Bayombong, Nueva Vizcaya. She is 49 years old. Rosita is the group leader of a ten-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.

Rosita is married and has five school-aged children. To make a living, Rosita owns and operates a general store. The main source of income for the business comes from selling both food and daily use products in the local community. Rosita has been engaged in her business for over 10 years and earns approximately 6,000 Phillippines pesos (PHP) a month for these activities.

In 2007, Rosita joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Rosita has successfully repaid a previous loan of 10,000 PHP from ASKI. This previous loan was used to purchase additional products to sell. Rosita is requesting a new loan of 12,000 PHP, which will be used to purchase new items to expand her product offering. This loan will be the sixth loan taken out by Rosita from ASKI. She plans to use the additional revenue generated from the business to improve the general living conditions 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 of farmers, fisher folk 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 Partners to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.

In this group: Rosita, Elpidio, Merly, Perlita, Virginia, Erlinda, Zacarias, Jovena, Wilma, Erlinda

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