A loan of $150 helped to purchase raw materials in order to make additional handicrafts.

Lorna's story

Lorna O. is from the village of Macate Diffun. She is 40 years old. Lorna is married and has five school-aged children. To make a living, Lorna owns and operates a business venture in the arts sector; she operates a handicraft business. While not the only means for generating revenue, the main source of income for the business comes from making and selling handicraft bags. Lorna has been engaged in her business for over one year and earns approximately 4,000 PHP a month for these activities.

In 2010, Lorna joined ASKI to gain access to financial services to help improve her living situation and her ability to engage in business activities. Lorna has successfully repaid a previous loan of 5,000 PHP from ASKI. This previous loan was used to purchase raw materials to make additional handicrafts. Lorna is requesting a new loan of 6,000 PHP, which will be used to purchase raw materials to make additional handicrafts. This loan will be the second loan taken out by Lorna from ASKI. She plans to use the additional revenue generated from the business to improve and 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.

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