Myrna T. is a charcoal and snack vendor. She is 40 years old and married to Romeo T.. She would like additional capital for her to buy more sacks of charcoal to retail.
Myrna is requesting a loan of PHP 12,000 as additional working capital for the business so that she will be able to generate higher profit. Myrna is from the rural village of Liwayway Diffun, Quirino province, a place that is mountainous and where upland farming is the major sources of income.
Myrna is blessed with three children who are all currently in school and require a lot of money. Her eldest, Ronnie Mae, is 14 years old and in his second year high school. Rovie Mher is 12 years old and in grade school. The youngest, Rona Angelina, is 9 years old and in grade four.
Myrna and Romeo hope to support the schooling of their children through college by exerting more effort in their business, which should allow them to expand and earn more income.
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.