A loan of $1,150 helped a member to purchase raw ingredients needed to make products for sale.

Elizabeth's Group's story

Elizabeth B. is from the village of Brgy. Bangaan, Solano, Nueva Vizcaya. She is 55 years old. Elizabeth is the group leader of a 10-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.

Elizabeth is married and has five adult children. To make a living, Elizabeth makes and sells food. The main source of income for the business comes from preparing and selling cooked food for daily meals. Elizabeth has been engaged in her business for over 10 years and earns approximately 4,000 Philippines pesos (PHP) a month from it.

In 2011, Elizabeth joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Elizabeth is requesting a new loan of 5,000 PHP, which will be used to purchase raw ingredients needed to make products for sale. This will be the first loan taken out by Elizabeth from ASKI. She plans to use the additional revenue generated from the business to improve the general living conditions of her 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 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: Elizabeth, Melinda, Analiza, Nelly, Rowena, Julyda, Loren, Perlita, Lolita*, Mary Ruth*
*not pictured

Loan details

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Loan details