A loan of $1,775 helped a member to purchase additional products to sell.


Loida's Group's story

Loida C. is from the village of San Roque. She is 39 years old and is the group leader of this six-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 Loida C.'s Group.

Loida is single. She owns and operates a general store, selling a variety of different products in the local community. She has been engaged in her business for over eleven years and earns approximately 7,000 PHP a month.

In 2006, Loida joined ASKI to gain access to financial services to help improve her living situation and her ability to engage in business activities. She has successfully repaid a previous loan of 25,000 PHP from ASKI. This previous loan was used to purchase new items to expand her product offering.

Loida is requesting a new loan of 25,000 PHP which will be used to purchase additional products to sell. This loan will be her 12th from ASKI. She plans to use the additional revenue generated from the business to financially support immediate members of her family.

About ASKI: ASKI is one of the most successful microfinance institutions in the Philippines. It has twenty-one branches covering the Central and Northeastern areas. Its clients are mostly of farmers, fisherfolk and small-business 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: Loida, Ruth, Tito*, Eunice, Warlita, Julieta
*not pictured



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