A loan helped a member to purchase additional inventory & working capital.

Luzviminda's Group's story

Luzviminda D. is from the village of Casalatan, Cauayan City, Isabela. She is 51 years old. Luzviminda is the group leader of a 12-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 9 adult children. She owns & operates a food stall. The main source of income for the business comes from selling vegetables in the local community. Luzviminda has been engaged in her business for over 4 years and earns approximately 9,000 Philippine pesos (PHP) a month for these activities.

In 2007, Luzviminda joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business. Luzviminda has successfully repaid a previous loan of 18,000 PHP from ASKI. This previous loan was used to purchase additional inventory & as working capital.

Luzviminda is requesting a new loan of 20,000 PHP which will be again be used for inventory and working capital. This loan will be the 7th loan taken out by Luzviminda from ASKI. She plans to use the additional revenue generated from the business to improve and expand it.

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, fisher-folk 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: Luzviminda, Rodita, Rodalyn, Loida, Flordeliza, Rubilyn, Jesusa, Rosalina, Maribel, Jay, Ricardo, Pilar

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