Jovelyn Q. is from the village of Cabisera 5, Ilagan, Isabela. She is 36 years old. Jovelyn is married and has 5 school-aged children. To make a living, Jovelyn owns & operates a business preparing and selling snacks to the local community. Jovelyn has been engaged in her business for over 5 years and earns approximately 3500 PHP a month for these activities.
In 2010, Jovelyn joined ASKI to gain access to financial services to help improve her living situation and her ability to engage in business activities. Jovelyn has successfully repaid a previous loan of 5000 PHP from ASKI. This previous loan was used to purchase the raw ingredients needed to make the products she has for sale. Jovelyn is requesting a new loan of 8000 PHP which will again be used to purchase raw ingredients needed to make products for sale. This will be the 3rd loan taken out by Jovelyn from ASKI. She plans to use the additional revenue generated from the business to improve and expand her business.
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.
About Alalay sa Kaunlaran, Inc.
This loan is made possible by Alalay sa Kaunlaran, Inc. (ASKI), which means “a partner in development.” ASKI has been in operation for 25 years and runs multiple successful initiatives in addition to microlending. Its main microfinance branch focuses on lending to microentrepreneurs, small farmers, and fisher folk. ASKI also provides microinsurance and marketing support for borrowers, as well as educational programs to develop the skills of both borrowers and staff. The ASKI Foundation funds community development projects such as a daycare feeding program and scholarships for children. ASKI Global helps overseas Filipinos develop entrepreneurial and financial skills to maximize the impact of remittances.