Funded

Total loan: $975
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A loan of $975 helped a member to purchase additional products to sell.


Nerissa's Group's story

Nerissa A. is from the village of Maluno Sur. She is 43 years old. Nerissa 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 Nerissa A. Group.

Nerissa is married and has 4 school-aged children. To make a living, Nerissa 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 personal products such as perfumes and watches in the local community. Nerissa has been engaged in her business for over 3 years and earns approximately 4000 PHP a month for these activities.

In 2009, Nerissa joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Nerissa has successfully repaid a previous loan of 5000 PHP from ASKI. This previous loan was used to purchase additional products to sell. Nerissa is requesting a new loan of 10000 PHP which will be used to purchase additional products to sell. This loan will be the second loan taken out by Nerissa from ASKI. She plans to use the additional revenue generated from the business to improve and 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, 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: Nerissa, Jocelyn, Evangeline, Marilyn*, Jennifer, Teresita
*not pictured



Loan details

Loan length:

8 months
Disbursed date: April 23, 2010
Facilitated by Field Partner: Alalay sa Kaunlaran, Inc. (ASKI)

Lenders and lending teams



Loan details

Loan length:

8 months
Disbursed date: April 23, 2010
Facilitated by Field Partner: Alalay sa Kaunlaran, Inc. (ASKI)