A loan of $1,725 helped a member to purchase additional inventory and to increase working capital.


Merlita's Group's story

Merlita S. is from the village of Nagrumbuan, Cauayan City, Isabela. She is 51 years old. Merlita is the group leader of an 11-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.

Merlita is married and has 4 adult-aged children. She owns and operates a general store, selling both food and daily use products in the local community. Merlita has been engaged in her business for over 4 years and earns approximately 4,000 PHP a month from it.

In 2010, Merlita joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Merlita has successfully repaid a previous loan of 9,000 PHP from ASKI, which was used to purchase additional inventory and increase working capital. Merlita is requesting a new loan of 12,000 PHP which will again be used to purchase additional inventory and increase working capital. This will be the 3rd loan taken out by Merlita from ASKI. She plans to use the additional revenue generated from the business to improve/expand her business.

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: Merlita, Virginia, Elma, Martina, Leonardo, Melody, Ariel, Raquel, Raquel, Wilhelmina, Zenia



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