A loan of $850 helped a member to purchase new items to expand product offering.

Jovinsol's Group's story

Jovinsol C. is from the village of Brgy.Bonfal East, Bayombong, Nueva Vizcaya. He is 32 years old. Jovinsol is the group leader of a 5-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.

Jovinsol is married and has 3 school-aged children. To make a living, Jovinsol owns & operates a business venture making & selling food. While not the only means for generating revenue, the main source of income for the business comes from selling fish balls and other dimsums to the local community. Jovinsol has been engaged in his business for over 12 years and earns approximately 5000 PHP a month for these activities.

In 2009, Jovinsol joined ASKI to gain access to financial services to help improve his living situation and ability to engage in business activities. Jovinsol has successfully repaid a previous loan of 7,000 PHP from ASKI. This previous loan was used to purchase additional products to sell. Jovinsol is requesting a new loan of 9,000 PHP which will be used to purchase new items to expand product offering. This will be the 3rd loan taken out by Jovinsol from ASKI. He plans to use the additional revenue generated from the business to financially support immediate members of his family.

About ASKI:

ASKI is one of the most successful microfinance institutions in the Philippines. It has 38 branches covering the Central and Northeastern areas. Its clients are mostly of 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: Jovinsol, Ronald, Rodel, Elmer, Nelson

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