A loan of $1,100 helped a member to purchase additional rice to sell.

Teresa's Group's story

Teresa C. is from the village of Santor, Reina Mercedes, Isabela. She is 36 years old. Teresa is the group leader of a 7-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.

Teresa is married and has four school-aged children. To make a living, Teresa owns & operates a specialized retail store. While not the only means for generating revenue, the main source of income for the business comes from hulled rice retailing. Teresa is just starting this business.

In 2011, Teresa joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Teresa is requesting a new loan of 7000 PHP which will be used to purchase additional rice to sell. This will be the 1st loan taken out by Teresa from ASKI. She plans to use the additional revenue generated from the business to supplement the family's income.

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, 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: Teresa, Norma, Dolores, Josefa, Joy, Maribel, Renita

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