A loan of $500 helped to purchase fertilizers, such as manure.

Richard's story

Richard M. is from the village of Bayabo East. He is 34 years old. Richard is married and has three school-aged children. To make a living, Richard raises crops. The main source of income for the business comes from planting and harvesting rice for sale. Richard has been engaged in his business for over 10 years and earns approximately 10,000 Philippine pesos (PHP) a month from it.

In 2007, Richard joined ASKI to gain access to financial services to help improve his living situation and ability to engage in business activities. Richard has successfully repaid a previous loan of 16,000 PHP from ASKI. This previous loan was used to purchase additional seeds, seedlings and young crops to raise.

Richard is requesting a new loan of 23,000 PHP, which will be used to purchase fertilizers, such as manure. This will be the eighth loan taken out by Richard from ASKI. He plans to use the additional revenue generated from the business to improve/expand it.

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.

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