A loan of $1,000 helped a member to purchase additional products to sell.

Ma. Socorro's Group's story

Ma. Socorro A. is from the village of Carabatan Chica, Cauayan City, Isabela. Ma. Socorro is the group leader of a seven-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.

Ma. Socorro is 37 years old, married, and has three school-aged children. To make a living, Ma. Socorro 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. Ma. Socorro is just starting this business.

In 2010, Ma. Socorro joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Ma. Socorro has successfully repaid a previous loan of 5,000 PHP from ASKI, which was used to purchase additional products to sell. Ma. Socorro is requesting a new loan of 9,000 PHP, which will be used to purchase additional products to sell. This loan will be Ma. Socorro's second loan from ASKI. She plans to use the additional revenue generated from the business to improve and 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, fisherpeople, 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: Ma. Socorro, Nancy, Teresita, Margarita, Rejoice, Josie, Juliet

Loan details

Lenders and lending teams

Loan details