“One must be patient and have perseverance to live life successfully,” is the principle of Virginia M.. She is 59 years old, a mother of four children and married to Herminio M.. They are living in a rural community located in Barangay Nangalisan of Bagabag, Nueva Vizcaya. Most of her children are high school graduates only, unable to pursue their college courses due to a lack of finances. Now, all of her children are married and have their own families.
Virginia earns a living by maintaining their general store business. Her husband also maintains a piggery and small rice farm where most of the income from the store are invested. They use only a small amount for their daily necessities. According to Virginia, she can make a net income of PHP700.00 (about USD $14) per week. This is very little to support their piggery business and their small rice farm. Virginia is seeking the support of the lenders to borrow a loan of PHP19, 000.00 (USD $400). She will use the money as additional capital for their businesses and to provide for the needs of her family.
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.