A loan of $1,875 helped a member to purchase fertilizers such as manure.

Imelda's Group's story

Imelda C. is from the village of Victoria. She is 42 years old. Imelda is the group leader of a 7-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. The official name of this borrowing group is Imelda C.'s Group.

Imelda is married and has 2 school-aged children. To make a living, Imelda owns & operates a business venture in the agriculture sector raising crops. While not the only means for generating revenue, the main source of income for the business comes primarily from planting & harvesting a variety of vegetables for sale. Imelda has been engaged in her business for over 20 years and earns approximately 5000 PHP a month for these activities.

In 2009, Imelda joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Imelda has successfully repaid a previous loan of 13,000 PHP from ASKI. This previous loan was used to purchase additional seeds, seedlings & young crops to raise. Imelda is requesting a new loan of 15000 PHP which will be used to purchase fertilizers such as manure. This loan will be the 4th loan taken out by Imelda from ASKI. She plans to use the additional revenue generated from the business to pay the tuition fees of her children.

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: Imelda, Angelita, Felicitas, Imelda, Ella, Esmeralda, Ruth Ann*
*not pictured

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