A loan of $875 helped a member additional inventory and working capital.

Norma's Group's story

Norma R. is from the village of Disimuray Cauayan City, Isabela. She is 36 years old. Norma is the group leader of a 6-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.

Norma is married and has 4 school-aged children. To make a living, Norma owns and operates a general store. While not the only means for generating revenue, the main source of income for the business comes primarily from selling both food and daily use products in the local community. Norma has been engaged in her business for over 1 year and earns approximately 2,500 PHP a month for these activities.

In 2011, Norma joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Norma is requesting a new loan of 7,000 PHP which will be used to purchase additional inventory and working capital. This loan will be the 1st loan taken out by Norma 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 of 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: Norma, Imelda, Melody, Marilyn, Loreta, Emelyn

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Loan details