A loan of $1,025 helped a member to purchase new items in order to expand her product offerings.


Loida's Group's story

Loida C., age 34, is from the village of Maddarulug Sur. Loida 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. The official name of this borrowing group is Loida C.'s Group.

Loida is married and has three school-aged children. To make a living, Loida owns and operates a general store, where she sells a variety of different products to members of the local community. Loida has been engaged in her business for over seven years and earns approximately 3,000 PHP a month for these activities.

In 2010, Loida joined ASKI to gain access to financial services. She eished to help improve her living situation and increase her ability to engage in business activities. Loida has successfully repaid a previous loan of 5,000 PHP from ASKI. This previous loan was used to purchase additional products to sell. Loida is requesting a new loan of 5,000 PHP, which will be used to purchase new items to expand her product offering. This loan will be the second loan taken out by Loida from ASKI. She plans to use the additional revenue generated from the business to improve and expand the borrower's 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, fisherfolk, and small business 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: Loida, Mary Jane, Frances, Nida, Gloryvie, Josefina, Lea, Pelagia, Analyn, Lanie
*not pictured



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