Kathleen M. is 28 years old and a mother of a four year old child named Jim-Owen, who is entering kindergarten. Her husband is a local proprietor of a furniture business in their village. They are happily living in Barangay Minanga Sur Iguig, Cagayan. Kathleen sells different kinds of vegetables to help her husband provide for their basic needs.
Kathleen plans to make their businesses more productive, and to accomplish this, Kathleen wants to borrow a loan of PHP5,000.00 for additional capital for their furniture and vending businesses. The amount will be a big help for the development of their businesses and to increase their income. Their daily income of PHP200.00 is not enough to provide for all their family's needs, and that is why she really hopes to improve their businesses with the additional capital she is requesting. She will use the loan to buy wood and other materials to manufacture more furniture that they will able to sell. Also, the loan will be used to buy more vegetable products for her vending business. Through this loan, they will be able to send their child to school and hopefully finish a college course some day. She believes that through her patience and sacrifices, God will make a way for them to attain their goals in life.
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.