A loan of $2,800 helped a member to purchase additional inventory & working capital.

Luzviminda's Group's story

Luzviminda L. is from the village of San Pablo, Cauayan City, in the province of Isabela. She is 33 years old. Luzviminda is the group leader of a 10-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.

Luzviminda is married and has 3 school-aged children. To make a living, Luzviminda owns and operates a business in the food sector making and selling food. While not the only means for generating revenue, the main source of income for the business comes primarily from selling crispy pork skin "chicharon" in the local community. Luzviminda has been engaged in her business for over 5 years and earns approximately 8000 PHP a month for these activities.

In 2006, Luzviminda joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Luzviminda has successfully repaid a previous loan of 30000 PHP from ASKI. This previous loan was used to purchase additional products to sell. Luzviminda is requesting a new loan of 37000 PHP which will be used to purchase additional inventory and working capital. This loan will be the 9th loan taken out by Luzviminda from ASKI. She plans to use the additional revenue generated from the business to improve and expand the 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

In this group: Luzviminda, Sherly, Marilou, Emilia, Analiza, Imelda, Diosdado, Juanita, Jocelyn, Emalyn

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