Meren C. is 58 years old and a resident of Barangay St. Teresa in Lallo, Cagayan province. She sells fruit and vegetables and is able to make PHP 300 average daily net income. Her husband served as Barangay (district) Captain in their village and used to help her in managing her fruits and vegetable vending business. They have children who are also helping her in buying volumes of vegetables and fruit since they no longer attend school.
They have only .3 hectares (.75 acres) of rice field where they get stock for their rice consumption. Meren is asking to borrow PHP 10,000 that will serve as additional working capital for her vending business. In this way, her vending will grow more for the future of her two children who were not able to continue studying to a higher level of education.
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.