A loan of $2,175 helped a member to purchase products to sell.


Teresita's Group's story

Teresita A. is from the village of Baringin Sur, Cauayan City, Isabela. She is 46 years old. Teresita is the group leader of an 8-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. Teresita is married and has 3 school-aged children. To make a living, Teresita owns & operates a business venture in the retail sector running a general store. While not the only means for generating revenue, the main source of income for the business comes primarily from selling food & daily use products in the local community. Teresita has been engaged in her business for over 2 years and earns approximately 9000 PHP a month for these activities. In 2008, Teresita joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Teresita has successfully repaid a previous loan of 15000 PHP from ASKI. This previous loan was used to purchase additional inventory & use as working capital. Teresita is requesting a new loan of 20000 PHP, which will be used to purchase additional products to sell. This loan will be the 5th loan taken out by Teresita 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, 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: Teresita, Arlene, Elena, Gertrudes, Teresita, Yolanda, Juanito, Epifania
*not pictured



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