A loan of $2,475 helped a member to purchase additional products to sell.

Genelyn Dauag's Group's story

Genelyn D. is from the village of Linglingay, Cauayan City, Isabela. She is 37 years old. Genelyn is the group leader of a 13-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.

Genelyn is married and has four school-aged children. To make a living, Genelyn owns and operates a general store. While not the only means for generating revenue, the main source of income for the business comes primarily from selling both food and daily use products in the local community. Genelyn has been engaged in her business for over 14 years and earns approximately 3,500 PHP a month for these activities.

In 2010, Genelyn joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Genelyn has successfully repaid a previous loan of 6,000 PHP from ASKI. This previous loan was used to purchase additional inventory and working capital. Genelyn is requesting a new loan of 15,000 PHP, which will be used to purchase additional products to sell. This will be the second loan taken out by Genelyn from ASKI. She plans to use the additional revenue she generates to improve/expand her 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 of 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: Genelyn, Jannette, Amalia, Randy, Leonardo, Nina, Luzviminda, Lydia, Marites, Teresita, Buena*, Lilia, Carmen
*not pictured

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Loan details