A loan of $3,450 helped a member to purchase vegetables to sell.

Nena's Group's story

Nena U. is from the village of La Paz, Cabatuan, Isabela. She is 45 years old. Nena is the leader of a 9-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.

Nena is married and has 4 school-aged children. To make a living, Nena sells vegetables in the local community. Nena has been engaged in her business for more than 10 years and earns approximately 4500 PHP a month.

In 2008, Nena joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Nena has successfully repaid a previous loan from ASKI. Nena is requesting a new loan of 20000 PHP which will be used to purchase vegetables to sell. This loan will be the 6th loan Nena has taken out 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, fishers 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: Nena, Lucia, Lily, Rosita, Gloria, Rosemarie, Susan, Adelina, Lorna

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