A loan of $1,000 helped a member to purchase raw materials needed to make products for sale.

Ismael's Group's story

Ismael V. is from the village of Anquiray, Amulung, Cagayan. He is 22 years old. Ismael is the group leader of a six-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.

Ismael is single. To make a living, Ismael owns & operates a business selling kitchen supplies & products to tourists and local community members. Ismael has been engaged in his business for over 10 years and earns approximately 8,000 PHP a month for these activities.

In 2006, Ismael joined ASKI to gain access to financial services to help improve his living situation and ability to engage in business activities. Ismael has successfully repaid a previous loan of 14,000 PHP from ASKI. Ismael is requesting a new loan of 5,000 PHP, which will be used to purchase raw materials needed to make products for sale. This loan will be the seventh loan taken out by Ismael from ASKI. He plans to use the additional revenue generated from the business to financially support immediate members of his family.

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: Ismael, Delia, Aurora, Milagros, Jocelyn, Rofel*
*not pictured

Loan details

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Loan details