A loan of $2,575 helped a member to buy seeds and seedlings to plant a new crop.

Domingo's Group's story

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.

In this group: Domingo, Faustino, Marilyn, Imelda, Melinda, Melvin, Crisanta, Merlita, Leonila, Maripaz, Julie

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Loan details