A loan of $1,000 helped a member to purchase additional products to sell.

Juliet's Group's story

Juliet R. is from the village of Centro Sur, Alcala, Cagayan. She is 43 years old. Juliet is the group leader of an eight-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.

Juliet is married and has five school-aged children. To make a living, Juliet owns and operates a specialized retail store. While not the only means for generating revenue, the main source of income for the business comes primarily from selling daily use products such as shampoo, soap and toothpaste in the local community. Juliet has been engaged in her business for more than two years and earns approximately 4,000 PHP a month for these activities.

In 2005, Juliet joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Juliet has successfully repaid a previous loan from ASKI. Juliet is requesting a new loan of 6,000 PHP, which will be used to purchase additional products to sell. This loan will be the second loan taken out by Juliet from ASKI. She plans to use the additional revenue generated from the business to improve/expand her business.

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, fisherfolk 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: Juliet, Norma, Arthur, Nelson, Luz, Rosemarie, Mario, Lilibeth

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