Microfinance - Olga Domeng's Group : Philippines

$2,350 of $2,775 raised.

Started raising funds on Feb 10, 2010

Olga Domeng is from the village of Villaluz. She is 37 years old. Olga is the group leader of a seven-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 Olga Domeng.Olga is married and has four school-aged children. To make a living, Olga owns & operates a business venture in the food sector running a food stall. The main source of income for the business comes primarily from tending a canteen near the school. Olga has been engaged in her business for over one year and earns approximately 9,000 PHP a month for these activities.In 2004, Olga joined ASKI to gain access to financial services to help improve her living situation and ability to engage in business activities. Olga has successfully repaid a previous loan of 5,000 PHP from ASKI. This previous loan was used to purchase new items to expand product offering. Olga is requesting a new loan of 20,000 PHP, which will be used to purchase additional products to sell. This loan will be the 10th loan taken out by Olga from ASKI. She...
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