A loan of $3,925 helped a member to purchase additional products to sell in her general store.

Narcisa's Group's story

Narcisa M. is from the village of Sta Isabel Norte. She is 42 years old. Narcisa is the group leader of a 21-member group taking out a loan from 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 Narcisa M.' Group.

Narcisa is married and has four school-aged children. To make a living, Narcisa owns and operates a general store. While not the only means for generating revenue, the main source of income for the business comes primarily from selling a variety of different products in the local community. Narcisa is just starting this business.

In 2009, Narcisa joined ASKI to gain access to financial services to help improve her living situation and her ability to engage in business activities. Narcisa has successfully repaid a previous loan of 8000 PHP from ASKI. This previous loan was used to purchase new items to expand her product offerings. Narcisa is requesting a new loan of 11000 PHP, which will be used to purchase additional products to sell. This loan will be the third loan taken out by Narcisa from ASKI. She plans to use the additional revenue generated from the business to improve/expand her 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 farmers, fishers, 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: Narcisa, Anita, Avelina, Consolacion, Emelia, Estrella, Herna, Leonila, Marisa, Melinda, Mildred, Nacing*, Nenita, Presca, Rebecca, Regina, Robelinda, Teresa, Veronica, Visitacion, Yolanda
*not pictured

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