A loan of $600 helped a member to purchase raw materials needed to make handicrafts for sale.

Marife Pacho's Group's story

Mariefe P. is from the village of Sun Life, Naguillian, Ilagan, Isabela. She is 35 years old. Mariefe is the group leader of a 5-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.

Mariefe is married and has 4 school-aged children. To make a living, Mariefe owns & operates a business venture in the retail sector managing a handicrafts business. The main source of income for the business comes from selling handicrafts home products to tourists and local community members. Mariefe has been engaged in her business for over 3 years and earns approximately 4,000 PHP a month for these activities.

In 2010, Mariefe joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Mariefe has successfully repaid a previous loan of 4,000 PHP from ASKI. This previous loan was used to purchase raw materials needed to make products for sale. Mariefe is requesting a new loan of 5,000 PHP which will be used to purchase raw materials needed to make products for sale. This loan will be the 2nd loan taken out by Mariefe 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: Mariefe, Jennifer, Irene, Levi, Jeanette

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