A loan of $2,375 helped a member to purchase additional inventory for making furniture.

Efren's Group's story

Efren T. Sr. is from the village of Barangcuag, Angadanan, Isabela. He is 57 years old. Efren 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.

Efren is married and has four adult children. To make a living, Efren operates a furniture making business, producing and selling cabinets and wardrobes to local businesses and community members. Efren has been engaged in his business for over ten years and earns approximately 12,000 PHP a month for these activities.

In 2006, Efren joined ASKI to gain access to financial services to help improve his living situation and ability to engage in business activities. Efren has successfully repaid a previous loan of 30,000 PHP from ASKI. This previous loan was used to to purchase additional inventory. Efren is requesting a new loan of 25,000 PHP which will also be used to purchase additional inventory. This loan will be the eighth loan taken out by Efren from ASKI. He plans to use the additional revenue to improve his 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 lenders.

In this group: Efren, Estrella, Ofelia, Quirina, Edna, Ruben, Eduardo

Loan details

Lenders and lending teams

Loan details