A loan of $1,625 helped a member to purchase additional inventory.

Marilyn's Group's story

Marilyn R. is from the village of Siempre Viva Norte. She is 42 years old and the group leader of a seven-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. The official name of this borrowing group is Marilyn R.'s Group.

Marilyn is married and has two school-aged children. To make a living, she owns a general store selling a variety of different products. Marilyn has been engaged in her business for over two years and earns approximately 2,500 PHP a month.

In 2007, Marilyn joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. She has successfully repaid a previous loan of 5,000 PHP from ASKI and is requesting a new loan of 7000 PHP to purchase additional products to sell. This will be the ninth loan taken out by Marilyn from ASKI. She plans to use the additional revenue generated from the business to pay the tuition fees of her children.

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, 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: Marilyn, Elizabeth, Adeliada, Imelda, Josie, Myrna, Marisol

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