A loan of $500 helped to purchase new items to expand product offering.

Magelyn's story

Magelyn S. is from the village of Capellan. She is 42 years old. Magelyn is married and has 4 school-aged children. To make a living, Magelyn owns and operates a business venture in the retail sector operating a specialized retail store. While not the only means for generating revenue, the main source of income for the business comes from selling cosmetics and apparel products from Avon and Natasha in the local community. Magelyn has been engaged in her business for over 4 years and earns approximately 9,000 PHP a month for these activities.

In 2006, Magelyn joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Magelyn has successfully repaid a previous loan of 19,000 PHP from ASKI. This previous loan was used to purchase additional products to sell. Magelyn is requesting a new loan of 23,000 PHP which will be used to purchase new items to expand product offering. This loan will be the tenth loan taken out by Magelyn from ASKI. She plans to use the additional revenue generated from the business to improve/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 of 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.

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