A loan of $1,300 helped a member to repair existing vehicle for better service.

Cherryl's Group's story

Cherryl T. is from the village of Brgy. Lawig, Lamut, Ifugao. She is 29 years old. Cherryl is the group leader of a 12-member group loan offered by ASKI, a Kiva partner. 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.

Cherryl is married and has two infant children. To make a living, Cherryl provides motorcycle transport services. The main source of income for the business comes from operating a tricycle-transport service. Cherryl has been engaged in her business for more than six years and earns approximately 4.000 Philippine pesos (PHP) a month from it.

In 2010, Cherryl joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Cherryl is requesting a new loan of 5,000 PHP, which will be used to repair an existing vehicle for better service. This will be the first loan taken out by Cherryl from ASKI. She plans to use the additional revenue generated from the business to improve the general living conditions of her 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: Cherryl, Angelito, Aquilino, Randy, Rhaffy, Durina, Ofelia, Alexander, Ofelia, Marisa, Elena, Jerick

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