A loan of $1,050 helped a member to purchase additional used bottles and newspapers to sell.

Gemma's Group's story

Gemma R. is from the village of Villaluz, Benito Soliven, Isabela. She is 43 years old and the group leader of a three-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 Gemma R. Group.

Gemma is married and has two adult children. To make a living, she provides recycling services, hauling junk and other waste materials for local businesses and community members. Gemma has been engaged in her business for over two years and earns approximately 3,000 PHP a month.

In 2009, Gemma joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. She has successfully repaid a previous loan of 8,000 PHP from ASKI and is requesting a new loan of 10000 PHP which will be used to purchase used bottles and newspapers to sell. This loan will be the fourth taken out by Gemma from ASKI. She plans to use the additional revenue generated to improve and 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, fisherfolk 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: Gemma, Shirly, Amercita

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