A loan of $4,125 helped a member to purchase additional raw materials to expand product offerings.

Dominga's Group's story

Dominga B. is from the village of Catabban. She is 44 years old. Dominga is the group leader of a 14-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 'Dominga B.'s Group'.

Dominga is married and has 3 school-aged children. To make a living, Dominga owns & operates a furniture making business. The main source of income for the business comes from making & selling general household furniture for local businesses and community members. Dominga has been engaged in her business for over 10 years and earns approximately 6,000 PHP a month for these activities.

In 2007, Dominga joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Dominga has successfully repaid a previous loan of 28,000 PHP from ASKI. This previous loan was used to purchase raw materials to make additional furniture. Dominga is requesting a new loan of 28,000 PHP which will be used to purchase additional raw materials to expand product offerings. This will be the ninth loan taken out by Dominga from ASKI. She plans to use the additional revenue generated from the business to improve/expand her business.

About ASKI:

ASKI is one of the most successful microfinance institutions in the Philippines. It has 25 branches covering the Central and Northeastern areas. Its clients are mostly of 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: Dominga, Fely, Anida, Marilyn, Dominador, Lina, Jerry, Arnold, Estelita, Arsenio, Rubelyn, Eva Francis, Mervita, Nelia

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