A loan of $1,100 helped a member to purchase additional products to sell.

Gemalyn's Group's story

Gemalyn J. is from the village of Rang-ay, Cabatuan, Isabela. She is 32 years old. Gemalyn is the group leader of a 6-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.

Gemalyn is married and has one school-aged child. To make a living, Gemalyn owns and operates a business venture in the retail sector running a general store. The main source of income for the business comes primarily from selling both food and daily use products in the local community. Gemalyn has been engaged in her business for over 6 years and earns approximately 4,000 PHP a month for these activities.

In 2009, Gemalyn joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Gemalyn has successfully repaid a previous loan of 8,000 PHP from ASKI. This previous loan was used to purchase additional inventory and working capital. Gemalyn is requesting a new loan of 10,000 PHP which will be used to purchase additional products to sell. This loan will be the 3rd loan taken out by Gemalyn from ASKI. She plans to use the additional revenue to improve/expand the 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: Gemalyn, Gepsy, Zenaida, Lorena, Roger, Olivia

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