A loan of $1,300 helped a member to purchase additional products to sell.

Luzviminda's Group's story

Luzviminda P. is from the village of D. V., Cauayan City, Isabela. She is 39 years old. Luzviminda is the group leader of a 10-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.

Luzviminda is married and has seven school-aged children. To make a living, Luzviminda owns and operates a specialized retail store. While not the only means for generating revenue, the main source of income for the business comes from selling fruits and vegetables in the community. Luzviminda is just starting this business.

In 2010, Luzviminda joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Luzviminda has successfully repaid a previous loan of 5,000 Philippines pesos (PHP) from ASKI. This previous loan was used to purchase additional products to sell.

Luzviminda is requesting a new loan of 7,000 PHP, which will also be used to purchase additional products to sell. This will be the second loan taken out by Luzviminda 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, 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: Luzviminda, Evangeline, Verginia, Thelma, Cresencia, German, Robert, Felomena, Melanie, Armando

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