A loan of $1,250 helped a member to purchase materials needed for his plumbing business.


Manuel's Group's story

Manuel N. is from the village of Lalog 2, Luna, Isabela. He is 43 years old. Manuel is the group leader of a 5-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.

Manuel is married and has 1 school-aged child. To make a living, Manuel owns & operates a business providing plumbing repairs in the local community. Manuel has been engaged in his business for over 10 years and earns approximately 6000 PHP a month from these activities.

In 2009, Manuel joined ASKI to gain access to financial services to help improve his living situation and ability to engage in business activities. Manuel has successfully repaid a previous loan of 9000 PHP from ASKI. This previous loan was used to purchase materials needed to provide service.

Manuel is requesting a new loan of 12000 PHP which will be used to purchase more materials needed, such as pipes. This loan will be his 5th loan from ASKI. He plans to use the additional revenue generated to improve/expand his 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 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: Manuel, Franklin, Eleanor, Joseph, Carina



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