A loan of $1,575 helped a member to purchase additional soft drinks and bread to sell.

Gemma's Group's story

Gemma R. is from the village of Estrada. She is 43 years old. Gemma is the group leader of a 6-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 Gemma R. Group.

Gemma is married and has 3 school-aged children. To make a living, Gemma owns & operates a food stall near the school. Gemma has been engaged in her business for over 5 years and earns approximately 2000 PHP a month for these activities.

In 2008, Gemma joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Gemma has successfully repaid a previous loan of 10,000 PHP from ASKI. This previous loan was used to purchase additional products to sell. Gemma is requesting a new loan of 8000 PHP, which will be used to purchase additional soft drinks and bread to sell. This loan will be the 4th loan taken out by Gemma 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 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: Gemma, Remedios, Pehinia, Matda, Eufemia, Imelda*

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