A loan of $925 helped a member to purchase additional inventory & working capital.


Elsa's Group's story

Elsa S. is from the village of Pinoma, Cauayan City, Isabela. She is 40 years old. Elsa is the group leader of a 5-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.

Elsa is married and has 4 school-aged children. To make a living, Elsa owns & operates a direct selling business. While not the only means for generating revenue, the main source of income for the business comes primarily from selling daily use products such as shampoo, soaps, toothpaste,& beauty products in the local community. Elsa has been engaged in her business for over 6 years and earns approximately 3000 PHP a month for these activities.

In 2008, Elsa joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Elsa has successfully repaid a previous loan of 10000 PHP from ASKI. This previous loan was used to purchase additional products to sell. Elsa is requesting a new loan of 7000 PHP which will be used to purchase additional inventory & working capital. This will be the 5th loan taken out by Elsa from ASKI. She plans to use the additional revenue generated from the business to supplement the family's income.

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: Elsa, Nerissa, Jocelyn, Gloria, Merelyn



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