A loan of $1,700 helped a member to purchase additional products to sell.

Teresita's Group's story

Teresita Q. is from the village of Ambalatungan Santiago City. She is 40 years old. Teresita 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.

Teresita is married and has 3 school-aged children. She owns and operates a sales business, selling balot, or chicken embryo, a native Filipino food. Teresita has been engaged in her business for over 2 years and earns approximately 4,000 PHP a month from it.

In 2010, 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 5,000 PHP from ASKI, which was used to purchase additional products to sell. Teresita is requesting a new loan of 7,000 PHP which will be used to purchase additional products to sell. This will be the second 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 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, Wilson, Elvira, Patricia, Rowena, Rufina, Zenaida, Ofelia, Marina, Sylvia*
*not pictured

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Loan details