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

Estrella's Group's story

Estrella A. is from the village of Bugallon, Cauayan City, Isabela. She is 53 years old. Estrella is the group leader of a 8-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.

Estrella is married and has 3 adult children. To make a living, Estrella owns and operates a business venture in the agriculture sector selling agricultural supplies. While not the only means for generating revenue, the main source of income for the business comes primarily from selling animal feed and mash to local farmers. Estrella has been engaged in her business for over 7 years and earns approximately 15,000 PHP a month for these activities.

In 2006, Estrella joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Estrella has successfully repaid a previous loan of 35,000 PHP from ASKI. This previous loan was used to purchase additional inventory and working capital. Estrella is requesting a new loan of 40,000 PHP, which will be used to purchase new items to expand product offering. This loan will be the 9th loan taken out by Estrella from ASKI. She plans to use the additional revenue generated from the business to improve/expand the borrower's business.

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 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: Estrella, Estelita, Eva, Fe, Jenifer, Janet, Sheryl, Leonida

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