A loan of $175 helped to purchase raw materials to make additional furniture.

Mercedes's story

Mercedes M. is from the village of Allinguigan 3rd. She is 47 years old. Mercedes is married and has 4 school-age children. To make a living, Mercedes owns & operates a business venture in the manufacturing sector operating a furniture making business. The main source of income for the business comes primarily from making & selling general household furniture to local businesses and community members. Mercedes has been engaged in her business for over 29 years and earns approximately 6000 PHP a month for these activities.

In 2009, Mercedes joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Mercedes has successfully repaid a previous loan of 6000 PHP from ASKI. This previous loan was used to purchase raw materials to make additional furniture. Mercedes is requesting a new loan of 7000 PHP which will be used to purchase raw materials to make additional furniture. This loan will be the fourth loan taken out by Mercedes from ASKI. She plans to use the additional revenue generated from the business to improve 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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