A loan of $200 helped to purchase additional raw materials to expand product offerings.

Hector's story

Hector T. is from the village of Centro 2. He is 41 years old, married, and has seven school-aged children. To make a living, Hector owns and operates a manufacturing business, making furniture. While not the only means for generating revenue, the main source of income for the business comes primarily from making and selling general household furniture to local businesses and community members. Hector has been engaged in his business for over 21 years and earns approximately 5,000 PHP a month for these activities.

In 2009, Hector joined ASKI to gain access to financial services to help improve his living situation and ability to engage in business activities. Hector has successfully repaid a previous loan of 12,000 PHP from ASKI. This previous loan was used to purchase raw materials to make additional furniture. Hector is requesting a new loan of 8,000 PHP, which will be used to purchase additional raw materials to expand product offerings. This loan will be the fourth loan taken out by Hector from ASKI. He plans to use the additional revenue generated from the business to pay the tuition fees of his 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 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.

Loan details

Lenders and lending teams

Loan details