A loan of $1,200 helped a member to purchase materials needed to expand services provided.

Leticia's Group's story

Leticia P. is from the village of Brgy. Darubba, Quezon,Nueva Vizcaya. She is 59 years old. Leticia is the group leader of a five-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.

Leticia is widowed and has six adult children. To make a living, Leticia operates a service-based business. The main source of income for the business comes from providing rice processing to local community members. Leticia has been engaged in her business for over 15 years and earns approximately 5,000 Philippines pesos (PHP) a month from it.

In 2009, Leticia joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Leticia has successfully repaid a previous loan of 15,000 PHP from ASKI. This previous loan was used to purchase materials needed to provide service.

Leticia is requesting a new loan of 15,000 PHP, which will be used to purchase materials needed to expand services provided. This will be the fifth loan taken out by Leticia 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: Leticia, Lolita, Carmelita, Myrna, Charlito

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