Cleto Y. is from the village of Bayombong, Nueva Vizcaya. He is 24 years old. Cleto is single.
To make a living, Cleto owns and operates a jeepney (small bus) transport service. Cleto has been engaged in his business for over three years and earns approximately 4,000 PHP a month for these activities.
In 2011, Cleto joined ASKI to gain access to financial services to help improve his business and living situation. Cleto is requesting a loan of 5,000 PHP, which will be used to repair his vehicle for better service. This will be the first loan taken out by Cleto from ASKI. He plans to use the additional revenue generated from the business to save as a reserve for future emergencies.
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.
About Alalay sa Kaunlaran, Inc.
This loan is made possible by Alalay sa Kaunlaran, Inc. (ASKI), which means “a partner in development.” ASKI has been in operation for 25 years and runs multiple successful initiatives in addition to microlending. Its main microfinance branch focuses on lending to microentrepreneurs, small farmers, and fisher folk. ASKI also provides microinsurance and marketing support for borrowers, as well as educational programs to develop the skills of both borrowers and staff. The ASKI Foundation funds community development projects such as a daycare feeding program and scholarships for children. ASKI Global helps overseas Filipinos develop entrepreneurial and financial skills to maximize the impact of remittances.