A loan of $1,000 helped a member to purchase additional products to sell.

Benita's Group's story

Benita P. is from the village of Villa Imelda. She is 35 years old. Benita is the group leader of a seven-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 Benita P..

Benita is married and has three school-aged children. To make a living, Benita owns & operates a general store selling a variety of different products in the local community. Benita has been engaged in her business for over two years and earns approximately 3,000 PHP a month for these activities.

Benita joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Benita has successfully repaid a previous loan from ASKI. This previous loan was used to purchase additional products to sell. Benita is requesting a new loan of 10,000 PHP, which will be used to purchase additional products to sell. This loan will be the sixth loan taken out by Benita 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 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: Benita, Emilia, Lucita, Gloria, Emily, Milagros, Virgielyn

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