A loan of $1,175 helped a member to purchase additional inventory & working capital.

Jennifer's Group's story

Jennifer F. is from the village of Alinam, Cauayan City, Isabela. She is 42 years old. Jennifer 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.

Jennifer is married and has 4 school-aged children. To make a living, Jennifer owns & operates a general store, selling both food & daily use products in the local community. Jennifer has been engaged in her business for over 6 years and earns approximately 7000 PHP a month for these activities.

In 2009, Jennifer joined ASKI to gain access to financial services to help improve her living situation and her ability to engage in business activities. Jennifer has successfully repaid a previous loan of 10000 PHP from ASKI. This previous loan was used to purchase additional inventory & working capital. Jennifer is requesting a new loan of 20000 PHP which will again be used to purchase additional inventory & working capital. This will be the 4th loan taken out by Jennifer from ASKI. She plans to use the additional revenue generated from the business to improve and 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: Jennifer, Flordeliza, Hilda, Norma, Salvacion

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