A loan of $650 helped a member to purchase additional products to sell.

Susan's Group's story

Susan S. is from the village of Namnama. She is 43 years old. Susan is the group leader of a 6-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 Susan S..

Susan is married and has three school-aged children. Susan owns and operates a specialized retail store. The main source of income for the business comes from selling flowers in the market. Susan has been engaged in her business for over 18 years and earns approximately 2500 Philippine pesos (PHP) a month from it.

In 2010, Susan joined ASKI to gain access to financial services to help improve her living situation and ability to do business. Susan is requesting a new loan of 5000 PHP which will be used to purchase additional products to sell. This loan will be the first loan taken out by Susan from ASKI. She plans to use the additional revenue generated from the business to improve and expand it.

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, fisher-folk 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: Susan, Carmelita, Ginalyn, Gloria, Teresita, Warlita

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