A loan of $1,100 helped a member to purchase additional products to sell.

Pamela's Group's story

Pamela C. is from the village of Union, Cauayan City, Isabela. She is 32 years old. Pamela is the group leader for a six-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.

Pamela is married and has two school-aged children. To make a living, Pamela runs a general store. The main source of income for the business comes from selling food and daily use products in the local community. Pamela has been engaged in her business for over two years and earns approximately 4,000 Philippine pesos (PHP) a month.

In 2006, Pamela joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Pamela has successfully repaid a previous loan of 7,000 PHP from ASKI. This previous loan was used to purchase additional inventory and to provide working capital. Pamela is requesting a new loan of 9,000 PHP, which will be used to purchase additional products to sell. This will be Pamela's second loan from ASKI. She plans to use the additional revenue generated from the business to improve 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: Pamela, Edna, Alma, Milagros, Ruth Grace, Elzabeth

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Loan details