A loan of $775 helped a member to purchase additional raw materials to expand product offerings.


Remedios' Group's story

Remedios B. is from the village of Libag Norte, Tuguegarao City. She is 35 years old. Remedios is the group leader of a five-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.

Remedios is married and has three school-aged children. To make a living, Remedios owns & operates a business making & selling dining furniture to local businesses and community members. Remedios has been engaged in her business for over five years and earns approximately 4,000 PHP a month for these activities.

In 2010, Remedios joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Remedios has successfully repaid a previous loan of 5,000 PHP from ASKI. Remedios is requesting a new loan of 8,000 PHP, which will be used to purchase additional raw materials to expand her product offerings. This loan will be the second loan taken out by Remedios from ASKI. She plans to use the additional revenue generated from the business to pay the tuition fees for her children.

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: Remedios, Edna, Adela, Gemma, Joseph
*not pictured



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