A loan of $900 helped a member for additional inventory & working capital.

Maxima's Group's story

Maxima M., from the village of Union Kalingan Luna, Isabela, is the 54-year-old group leader of a five-member group loan offered by ASKI. While each member of the group receives an individual loan, they are all responsible for paying back the loans of their fellow group members if someone is delinquent or defaults.

Maxima, who is married and has six grown children, owns and operates a business venture in the food sector making and selling food. The main source of income for the business comes from selling vegetables and snacks in the local community. Engaged in her business for over 15 years, she earns approximately 3500 PHP a month.

In 2007, Maxima joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Having repaid a previous loan of 5000 PHP from ASKI that was used to purchase additional inventory and as working capital, she is requesting her third loan for 7000 PHP to purchase additional inventory and use as working capital. Maxima plans to use the additional revenue generated from the business to improve/expand her enterprise.

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 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: Maxima, Nancy, Elvina, William, Jesusa

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Loan details