A loan of $1,100 helped a member to purchase equipment to improve her business.

Maria Teresa's Group's story

Maria Teresa G. is from Barangay 4, Enrile, Cagayan. She is 24 years old and is the group leader of this twelve-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.

Maria Teresa is married and has one infant child. She owns and operates a motorcycle repair business, providing repair services to local community members. She has been engaged in her business for over a year and earns approximately 5,000 PHP a month.

In 2010, Maria Teresa joined ASKI to gain access to financial services to help improve her living situation and her ability to engage in business activities. She is requesting a loan of 4,000 PHP which will be used to purchase equipment to improve her business. This loan will be her first from ASKI. She plans to use the additional revenue generated from the business to improve and expand her business.

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: Maria Teresa, Ester, Nelyn, Visitacion, Rosario, Josephine*, Lydia*, Anabelle, Sylvia, Mary Rose, Maricel, Teresa
*not pictured

Loan details

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Loan details