A loan of $800 helped a member to purchase additional seeds, seedlings and young crops to raise.

Joyce's Group's story

Joyce B. is from the village of Cabisera 5, Ilagan, Isabela. She is 30 years old and the group leader of a 4-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 Joyce B.'s Group.

Joyce is married and has 2 very young children. She owns and operates a farming business, planting and harvesting rice and corn for sale. Joyce has been engaged in her business for over 11 years and earns approximately 25,000 PHP every harvest season or after four months.

In 2010, Joyce joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Joyce has successfully repaid a previous loan of 15,000 PHP from ASKI, which was used to purchase fertilizers such as manure. Joyce is requesting a new loan of 8,000 PHP which will be used to purchase additional seeds, seedlings and young crops to raise. This will be the 2nd loan taken out by Joyce 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: Joyce, Estelita, Amilyn, Leonila

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