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Domingo's Group
In this Group: Domingo, Faustino, Marilyn, Imelda, Melinda, Melvin, Crisanta, Merlita, Leonila, Maripaz, Julie
Domingo S. lives in the village of Rizal, Cauayan City, Isabela. He is 56 years old and leads an 11-person loan group affiliated with ASKI. While each member of the group receives an individual loan, they are all responsible for paying back the loans of fellow group members if someone is delinquent or defaults.

Domingo is separated and has five adult-aged children. For the last 30 years, he has made a living by growing vegetables and now earns about 10,000 PHP a month from his work.

In 2006, Domingo joined ASKI to gain access to financial services to help improve his life and ability to engage in business. He has successfully repaid six previous loans from ASKI and is applying for a new loan, for 25,000 PHP, to buy seeds and seedlings for his next crop. He plans to use the additional revenue made possible by this loan to continue expanding 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, fishermen and women 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 Partners to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.

Additional Information

About Alalay sa Kaunlaran, Inc.

This loan is made possible by Alalay sa Kaunlaran, Inc. (ASKI), which means “a partner in development.” ASKI has been in operation for 25 years and runs multiple successful initiatives in addition to microlending. Its main microfinance branch focuses on lending to microentrepreneurs, small farmers, and fisher folk. ASKI also provides microinsurance and marketing support for borrowers, as well as educational programs to develop the skills of both borrowers and staff. The ASKI Foundation funds community development projects such as a daycare feeding program and scholarships for children. ASKI Global helps overseas Filipinos develop entrepreneurial and financial skills to maximize the impact of remittances.

ASKI’s motto is “Together, let’s make things happen!” Join ASKI's Kiva Lending Team or view its website.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Philippines

  • $1175
    Average annual income
  • 880
    View loans »
    Philippines Loans Fundraising
  • $54,390,175
    Funds lent in using Kiva
  • 43.4
    Philippines Pesos (PHP) = $1 USD

Success!! The loan was 100% repaid

A portion of Domingo's Group's $2,575 loan helped a member to buy seeds and seedlings to plant a new crop.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 26, 2011
Listed
Feb 22, 2011
Currency Exchange Loss:
Possible
Ended:
Aug 16, 2011