A loan of $1,950 helped a member to invest in expanding the business.

Jocelyn's Group's story

Jocelyn G. is from the village of Bannawag. She is 41 years old. Jocelyn is the group leader of a 8-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 Jocelyn G.'s Group.

Jocelyn is married and has 4 school-aged children. To make a living, Jocelyn owns & 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 seafood product, including fish and shrimp, in the local community. Jocelyn has been engaged in her business for over 15 years and earns approximately 20000 PHP a month for these activities.

In 2007, Jocelyn joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Jocelyn has successfully repaid a previous loan of 10000 PHP from ASKI. This previous loan was used to invest in expanding the business. Jocelyn is requesting a new loan of 10000 PHP which will be used to invest in expanding the business. This will be the eighth loan Jocelyn 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: Jocelyn, Edeliza, Marilyn, Benita, Teresita, Marie Ann, Raquel, Joeann

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