A loan of $700 helped a member to purchase additional products to sell from her store.

Marilou's Group's story

Marilou C., age 51, 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.

Marilou has a specialized store from which she sells her wares, primarily rice. She has been engaged in her business for over a year and earns approximately 3,000 PHP a month. She and her husband have four school-aged children and live in the village of Pagbangkeruan, Alcala, Cagayan.

Earlier this year, Marilou joined ASKI to gain access to financial services. Her goal was to help improve her living situation and increase her ability to engage in business activities. Marilou is requesting her first loan in the amount of 4000 PHP, which will be used to purchase additional products to sell. She plans to use the additional revenue generated from the business to pay the tuition fees of her children.

About ASKI:

ASKI is one of the most successful microfinance institutions in the Philippines. It has 34 branches covering the central and northeastern areas. Its clients are mostly farmers, fisherfolk, and small business 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: Marilou, Norma, Elsa, Lina, Michelle, Maricar, Manolina

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Loan details