A loan of $1,500 helped a member to purchase new items to expand her product offering.


Victoria Santiago's Group's story

Victoria S. is from Barangay Paitan, Bayombong, Nueva Vizcaya. She is 46 years old. Victoria is the group leader of a ten-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. Victoria is married and has one school-aged child. To make a living, Victoria operates a direct selling business in the local community, selling cosmetic products. Victoria has been engaged in her business for over seven years and earns approximately $70 a month for these activities. In 2008, Victoria joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. She has successfully repaid a previous loan of 5,000 PHP from ASKI. This previous loan was used to purchase additional products to sell. Victoria is requesting a new loan of 5,000 PHP which will be used to purchase new items to expand her product offering. This will be her 4th loan from ASKI. She plans to use the additional revenue generated from the business to improve the general living conditions of her family. About ASKI: ASKI is one of the most successful micro-finance 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: Victoria, Fevelyn, Marela, Juliet, Catherine*, Normalita, Catalina, Corazon*, Lilia, Corazon
*not pictured



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