A loan of $1,500 helped a member to purchase materials needed to provide her services.


Marites' Group's story

Marites D. is from Rizal, Santiago City. She is the group leader of a 6-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 Marites D.'s group.

Marites is 41 years old, married, and has 2 school-aged children. To make a living, she owns & operates a catering business. The main source of income for the business comes from providing catering services in the local community. She has been engaged in her business for over 13 years and earns approximately 10,000 PHP a month.

In 2008, Marites joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. She has successfully repaid a previous loan of 10,000 PHP from ASKI. This previous loan was used to purchase materials she needed in order to provide her services. Marites is requesting a new loan of 20,000 PHP, which will be used for the same purpose. This will be Marites’ fourth loan from ASKI. She plans to use the additional revenue generated from the business to improve and expand it.

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-business 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: Marites, Jessica, Novelina*, Gemma, Perlita, Benilda
*not pictured



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