A loan of $800 helped a member to purchase new items to expand product offering.

Jovelyn's Group's story

Jovelyn D. G. is from the village of Brgy. Buliwao, Quezon, Nueva Vizcaya. She is 37 years old. Jovelyn is the group leader of a 4-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.

Jovelyn is married and has three school-aged children. To make a living, Jovelyn owns and operates a business venture in the food sector. While not the only means for generating revenue, the main source of income for the business comes primarily from buying and selling of fruits and vegetables in the local community. Jovelyn has been engaged in her business for over eight years and earns approximately 5000 PHP a month for these activities.

In 2008, Jovelyn joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Jovelyn has successfully repaid a previous loan of 9,000 PHP from ASKI. This previous loan was used to purchase additional products to sell. Jovelyn is requesting a new loan of 11000 PHP which will be used to purchase new items to expand product offering. This loan will be the 5th loan taken out by Jovelyn from ASKI. She plans to use the additional revenue generated from the business to financially support immediate members of the borrower's family.

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: Jovelyn, Jennelyn, Jonelyn, Virginia

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