A loan of $1,225 helped a member to purchase additional generic medicines to sell.


Mary Grace's Group's story

Mary Grace M. is from the village of Allinguigan 1st. She is 22 years old. Mary Grace is the group leader of an 11-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 Mary Grace M.'s Group. Mary Grace is single. To make a living, Mary Grace owns and operates a specialized retail store. While not the only means for generating revenue, the main source of income for the business comes primarily from selling generic medicines in the local community. Mary Grace has been engaged in her business for more than two years and earns approximately 4,000 PHP a month for these activities. Mary Grace joined ASKI to gain access to financial services to help improve her living situation and her ability to engage in business activities. Mary Grace is requesting a new loan of 5000 PHP, which will be used to purchase additional products to sell. This loan will be the first loan taken out by Mary Grace 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: Mary Grace, Arsenia, Artemia, Carmen, Elizabeth, Elvira, Lilibeth, Luisa, Marina*, Monica, Sherly
*not pictured



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