A loan of $2,450 helped a member to purchase new items to expand product selection.

Regina's Group's story

Regina G. is from the village of Barucboc. She is 43 years old. Regina is the group leader of a 10-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 Regina G.'s Group.

Regina is married and has 2 school-aged children. To make a living, Regina owns & operates a general store. While not her only means of generating revenue, the main source of income comes from selling a variety of different products in the local community. Regina has been engaged in her business for over 21 years and earns approximately 5000 PHP a month for these activities.

In 2006, Regina joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Regina has successfully repaid a previous loan of 35000 PHP from ASKI. This previous loan was used to purchase new items to expand product offering. Regina is requesting a new loan of 40000 PHP which will be used to purchase new items to expand her product selection. This will be the ninth loan Regina has taken out from ASKI. She plans to use the additional revenue generated from the business to pay tuition fees for her children.

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, fisherfolks 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: Regina, Flora, Consalacion, May, Vivian, Liberty, Rosita, Cynthia, Ditas, Mary Grace

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