A loan of $975 helped a member to purchase additional products to sell.

Cerlas' Group's story

Cerlas D. is from the village of Nangalisan. She is 52 years old. Cerlas 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. The official name of this borrowing group is 'Cerlas D.'.

Cerlas is married and has 4 adult children. To make a living, Cerlas owns & operates a general store. While not the only means for generating revenue, the main source of income for the business comes from selling a variety of different products in the local community. Cerlas has been engaged in her business for over 3 years and earns approximately 2,500 PHP a month for these activities.

In 2010, Cerlas joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Cerlas is requesting a loan of 5000 PHP which will be used to purchase additional products to sell. This will be the 1st loan taken out by Cerlas from ASKI. She plans to use the additional revenue generated from the business 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, fisherfolk 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: Cerlas, Maria, Maria, Josephine, Maryjane, Rufina, Nieves, Editha, Josefina, Gloria

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