A loan of $925 helped a member to purchase additional products to sell.

Carol's Group's story

Carol G. is from the village of San Antonio. She is 41 years old and the group leader of a five-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 Carol G.'s Group.

Carol is married and has two school-aged children. To make a living, she owns a store selling wood and wood-related products. She has been engaged in her business for over two years and earns approximately 6000 PHP a month.

In 2007, Carol joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. She has successfully repaid a previous loan of 17,000 PHP from ASKI which was used to purchase additional products to sell and is requesting a new loan of 12000 PHP which will also be used to purchase additional products to sell. This will be the sixth loan taken out by Carol from ASKI. She plans to use the additional revenue generated from the business to improve the general living conditions of her family.

About ASKI: ASKI is one of the most successful micro-finance institutions in the Philippines. It has 29 branches covering the Central and Northeastern areas. Its clients are mostly farmers, fisherfolk 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: Carol, Rowena, Janet, Lucita, Judy

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