A loan of $2,275 helped a member to purchase livestock feed & other supplies.


Milo's Group's story

Milo P. is from the village of Brgy. Salamague, Lamut, Ifugao. He is 46 years old. Milo is the group leader of an eight-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.

Milo is married and has 2 school-aged children. To make a living, Milo owns & operates a business venture in the agriculture sector raising livestock. While not the only means for generating revenue, the main source of income for the business comes from raising pigs for breeding. Milo has been engaged in his business for over 10 years and earns approximately 3500 PHP a month from these activities.

In 2009, Milo joined ASKI to gain access to financial services to help improve his living situation and ability to engage in business activities. Milo has successfully repaid a previous loan of 8,000 PHP from ASKI. This previous loan was used to purchase breeding livestock. Milo is requesting a new loan of 15000 PHP, which will be used to purchase livestock feed and other supplies. This loan will be the 2nd loan taken out by Milo from ASKI. He plans to use the additional revenue generated from the business to support his 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: Milo, Jerry, Armando, Mario*, Rafael, Roberto, Eugene, Lawrence
*not pictured



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