A loan of $1,150 helped a member to purchase additional products to sell.

Rosemarie's Group's story

Rosemarie D. is from the village of San Andres. She is 33 years old. Rosemarie is the leader of a 10-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 Rosemarie D..

Rosemarie is married and has 2 school-aged children. To make a living, Rosemarie owns and operates a business venture in the retail sector operating a specialized store. While not the only means for generating revenue, the main source of income for the business comes primarily from selling vegetables in the local community. Rosemarie has been engaged in her business for over a year and earns approximately 2,500 PHP a month for these activities.

In 2010, Rosemarie joined ASKI to gain access to financial services in order to help improve her living situation and her ability to engage in business activities. Rosemarie is requesting a new loan of 5,000 PHP which will be used to purchase additional products to sell. This loan will be the 1st loan taken out by Rosemarie from ASKI. She plans to use the additional revenue generated from the loan to improve and expand her business. Her other 9 members also are requesting 5000 PHP each for their additional capital and their group loan has a total of 50000 PHP.

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, 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.

In this group: Rosemarie, Carmelita, Jenilyn, Jocelyn, Marilou, Nenita, Nenita, Paz, Rosalinda, Roselily

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