A loan of $650 helped a member to invest in expanding the business.

Norma's Group's story

Norma P. is from the village of San Roque, Enrile, Cagayan. She is 46 years old. Norma is the group leader of a seven-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.

Norma is married and has six school-aged children. To make a living, Norma provides manicure and pedicure services in the local community. Norma has been engaged in her business for over 17 years and earns approximately 1,500 Philippine pesos (PHP) a month from it.

In 2010, Norma joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Norma is requesting a new loan of 3,000 PHP, which will be used to invest in expanding the business. This will be the first loan taken out by Norma 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 29 branches covering the Central and Northeastern areas. Its clients are mostly 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: Norma, Pacita, Norma, Evangeline, Sabina, Vivian, Christine

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