A loan of $1,200 helped a member to purchase fertilizers such as manure.

Gloria's Group's story

Gloria M., from the village of Holy Friday, is the 49-year-old group leader of a five-member group loan offered by ASKI. While each group member receives an individual loan, they are 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 Gloria M.'s Group.

Gloria, a married mother of seven school-aged children, owns and operates a business planting and harvesting a variety of vegetables for sale. Engaged in her business for over 20 years, she earns approximately 4000 PHP a month.

In 2009, Gloria joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Having repaid her previous loan of 7,000 PHP from ASKI that was used to purchase fertilizers such as manure, she is requesting a new loan of 10000 PHP for the purchase of fertilizers such as manure. This will be Gloria's fourth loan from ASKI, and she plans to use the additional revenue generated from the business to pay her children's tuition fees.

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, 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: Gloria, Remelinda, Antonino, Reyma, Adelina

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